Post
Topic
Board Speculation
Merits 3 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
OgNasty
on 25/07/2025, 17:11:00 UTC
⭐ Merited by fillippone (3)
Ahh missed that 115k dip

Still stacking the mining coins

any guess as to why we dropped to 115k last night

Galaxy Digital sent 70k BTC to exchanges (Binance, OKX,..) and probably sold it.

But why did they sell in the first place?
They paper handed it? Or there was any other meaning? Maybe they bought a gigantic call positions and were only delta hedging that

Well, Mike went on TV for an interview where he said that he thought Ethereum was going to outperform Bitcoin over the next 3-6 months. After the interview he drove home and then sold billions of dollars worth of BTC. I don’t think it is a major concern. However, the timing of it could be to try and crash the price as mtgox debtors have their payouts reach long term capital gains status. I think it is only temporary, but it will be some selling pressure.