Bitcoin Rises to $117,200 Following Galaxy’s $9 Billion BTC Sale
Bitcoin (BTC) recovered to $117,200 after a dip below $115,000, marking a 1.2% decline over the past 24 hours. Key points include:
- Galaxy Digital moved large amounts of BTC to exchanges, linked to a significant transaction involving a whale that transferred around $9 billion worth of BTC.
- Galaxy confirmed the sale of all 80,000 BTC, calling it "one of the largest notional bitcoin transactions in crypto history," part of an estate planning strategy.
- Analysts suggest selling pressure from the whale is over, indicating potential for a local bottom and future price increases.
- John Glover from Ledn forecasts a rally towards $132,000 following recent market movements.
