Whales Move $2 Billion Bitcoin to Galaxy Digital - Suspected Profit Taking After ATH

What is this whale wallet?

A whale wallet with a portfolio of over $2 billion in Bitcoin has returned to on-chain with a move of Bitcoin to the world's largest OTC trading platform. The address currently has a total portfolio value of over $369 million (current). However, data analysis by Arkham Intelligence shows that this is only a small part of the network of associated addresses, and the total amount of Bitcoin controlled could exceed 80k BTC.

These changes are particularly notable as Bitcoin has just reached a new all-time high. Long-term investors are closely watching for changes that could lead to profit-taking. The behavior of sending Bitcoin to the address of Galaxy Digital, one of the leading market makers and Over-The-Counter (OTC) providers, suggests that these actions are more than just portfolio restructuring.

Based on the transaction history of the addresses involved, the majority of the BTC in this wallet was accumulated from 2014–2017 , meaning it is in the hands of long -term holders (LTHs ), we will all see that

• This is not “new money”.

• The people behind it are organizations or individuals with experience and high perseverance .

• It is likely that this group has been patiently waiting for more than 7–10 years for the peak price.

With the recent price surge taking Bitcoin to a new ATH at the time of writing, profit-taking behavior is understandable and makes sense in terms of investment strategy.

Trading behavior returns after years of hibernation

In the past 3 hours, this Whale Wallet has moved over 16,800 BTC worth ~$2 billion at the time of transfer, split into multiple transactions ranging from 2,000 BTC to 4,5000 BTC.

• Receiving address : Galaxy Digital OTC (identified as bc1qgp...).

• Source address : bc1qq8vqezre6d0fw3q4ht03rj029y4d8ylh7atjty.

Through the transaction flow chart on Arkham, the address bc1qq8... is identified as a central node , receiving Bitcoin from many different addresses (more than 20 sub-addresses), most of which are cold wallets or have received large amounts of BTC from previous purchases.

The flow of movement is determined:

Multiple sub-addresses (possibly cold wallets or long-term holding addresses) dump BTC to a central pooling address (14Yd4mr...). These BTC are then relayed through multiple intermediary nodes. Finally, this address transfers a large amount of BTC to Galaxy Digital , indicating that large-scale profit-taking is taking place through the OTC channel.

Galaxy Digital is an OTC liquidity provider where large volume institutional or individual investors often trade to avoid direct impact on open market prices. Trading with Galaxy helps maintain anonymity and prevents slippage.

The whales choosing Galaxy Digital over spot exchanges like Binance or Coinbase is a clear sign of a pre-planned “exit,” possibly through OTC or contract negotiations.

What is this whale planning?

Collect Bitcoin from various sub-wallet addresses, most of which are wallets with very limited transaction activity and often have no transfer history for many years. It is possible that these Bitcoins are used in cold wallets, and the BTC inside may have been accumulated between 2014 and 2017. These may be long-term investors, also known as long-term investors, who have been waiting for the current bull run to make a profit.

Whales use multiple layers of intermediary wallets after collecting BTC from multiple sub-wallets before reaching the final wallet. The main goal at this point is to “clean” the flow of funds, meaning to obscure the on-chain trace, reducing the possibility of tracing the origin of the assets. To optimize security and privacy, this tactic is often used by large holders. However, it makes it more difficult to analyze the behavior of conventional tracking tools.

After the transfer, all the BTC were transferred to a central wallet, the address of which starts with bc1qq8. This seems to be an example of controlling all the BTC prepared for the transaction. There was careful technical and strategic preparation in concentrating the assets in one place before the final step.

Evaluation and Conclusion

One of the clear on-chain signals that profit-taking has begun for long-term holders is the event of a whale wallet transferring over $2 billion worth of Bitcoin to Galaxy Digital OTC. However, this is a natural phase of the market cycle, so investors should closely monitor the behavior of large addresses during this time.

• Short term (7–14 days): If demand remains strong, BTC may continue to fluctuate around ATH. But investors should keep an eye on the same OTC flows.

• Medium term (1–3 months): If more LTH wallets moving BTC out continue to be recorded, there is a possibility of a 10–20% correction to “shake off” retail FOMO.

Disclaimer: The information presented in this article is the author's personal opinion on the cryptocurrency field. It is not intended to be financial or investment advice. Any investment decision should be based on careful consideration of your personal portfolio and risk tolerance. The views expressed in the article do not represent the official position of the platform. We recommend that readers conduct their own research and consult with a professional before making any investment decisions.

Compiled and analyzed by HCCVenture

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