Bitcoin dropped to $115,000 amid sales by Galaxy Digital

Galaxy Digital sold 30,000 BTC for $3.5 billion. This was reported by Lookonchain analysts.

Update:#GalaxyDigital has transferred nearly 30,000 $BTC($3.5B) out today, most of which went directly to exchanges and were sold.

Then #GalaxyDigital withdrew 1.15B $USDT from exchanges.#GalaxyDigital still holds 18,504 $BTC($2.14B). pic.twitter.com/Wv1cD3aHbf

— Lookonchain (@lookonchain) July 25, 2025

On the morning of July 25, the company led by Mike Novogratz sent over 10,000 BTC (~$1.1 billion) to exchanges.

Part of these funds came from an "early" whale who began moving assets after 14 years of inactivity. From July 15 to 17, the Satoshi-era investor sent over 80,000 BTC to Galaxy Digital. At that time, experts suggested that he was preparing to sell through the platform's over-the-counter service.

Note that #GalaxyDigital has deposited over 10,000 $BTC($1.18B) to exchanges in the past 8 hours!

The 10,000+ $BTC comes from the Bitcoin OG holding 80,009 $BTC($9.68B). pic.twitter.com/09XEqB6VGg

— Lookonchain (@lookonchain) July 25, 2025

After several hours, Lookonchain analysts reported that Galaxy Digital sold all the received Bitcoins. The firm withdrew $370 million in USDT from exchanges, and then another $1.15 billion from exchanges. The company has 18,504 BTC left on its balance sheet, worth $2.14 billion.

At the same time as the sales, Mike Novogratz stated in an interview with CNBC that in the coming months Ethereum will outperform Bit in growth rates. According to him, this will be facilitated by institutional interest in Ether, which may lead to a supply shortage of the second largest cryptocurrency.

"We will inevitably approach the mark of $4000 and possibly more than once," he said.

Novogratz also added that the price of digital gold at $150,000 looks like a "perfectly achievable goal."

Panic Among Investors

The market quickly reacted to the events. Bitcoin holders began to get rid of the first cryptocurrency, lowering its price by 2.6%.

At the time of writing, digital gold is trading at $115,582.

Hourly chart of BTC/USD on the Binance exchange. Source: TradingView Some crypto analysts believe that the price of Bitcoin may drop even lower. Daan Crypto Trades noted that if the current range is broken, the value of the first cryptocurrency could fall to $113,500.

$BTC Testing its range low and swept the local liquidity.

Most of this sell off is coming from Galaxy Digital which has sent $2B+ of Bitcoin to exchanges to sell. This is still part of that 80K BTC whale. The Bitcoin price has stalled ever since those coins started moving.

A… pic.twitter.com/fRW4DtBwL2

— Daan Crypto Trades (@DaanCrypto) July 25, 2025

"While Bitcoin is holding within limits, it will be difficult to maintain if selling continues," he wrote.

The well-known Hyperliquid whale James Wynn also predicted that the BTC price could drop to $113,000.

$BTC is going to $113,000 $ETH is going to $3,000

Alts will CRASH HARD.

Prepare for impact… pic.twitter.com/hP7aYRp9nd

— James Wynn 🤴 (@JamesWynnReal) July 25, 2025

However, not all participants in the crypto community hold pessimistic views. A trader under the pseudonym Ether Wizz expects that the drop in Bitco could support the growth of altcoins.

Galaxy Digital has been dumping $BTC non-stop 📉

Just today, they have dumped 12.85K BTC worth $1.5 billion on exchanges.

This has caused BTC to dump below $115K and now it's trying to stabilize.

But there's one good thing.

Last time, Galaxy Digital dumped BTC, alts rally… pic.twitter.com/pBAPtSi7lg

— Ether Wizz (@EtherWizz_) July 25, 2025

"There is good news as well. When Galaxy Digital was dumping BTC earlier, altcoins soon started to rise"

While some sell, others buy

Meanwhile, the British company The Smarter Web acquired 225 BTC for $26.4 million. The average purchase price is $118,076 per coin.

Now the firm manages a total of 1825 BTC, purchased at an average price of $109,088. The company, transitioning from web design to a Bitcoin storage strategy, reported that it has $1.3 million in cash for further purchases.

The CEO of The Smarter Web, Andrew Webley, called Bitcoin "the best asset in the world" and a key reserve for future business needs.

"Since our IPO, we have raised over £100 million in equity capital without incurring debt (, except for a small loan from the director, which was repaid after the reporting period ), providing us with an exceptionally strong position to execute our long-term strategy," he added.

Let us remind you that on July 23, a crypto investor made a large bet on the price of the first cryptocurrency falling below $110,000 by the beginning of August.