BTC Recovers Following Galaxy’s $9 Billion Sale of Dormant Bitcoin

Bitcoin Recovers as Galaxy Confirms $9B Sale From Dormant Whale Wallet

Bitcoin bounced back on Friday after dipping below $115,000 overnight, following confirmation from Galaxy Digital that it had completed a major sale of dormant BTC tied to long-term estate planning.

The largest cryptocurrency recovered to around $117,200, trimming intraday losses but still down roughly 1.2% over the past 24 hours. The move comes amid signs of easing selling pressure after one of the most significant Bitcoin transfers in recent history.

Dormant Whale Moves $9B in BTC

Galaxy revealed that it facilitated the sale of 80,000 BTC, worth approximately $9 billion, from a wallet inactive since the early years of Bitcoin. The firm described the event as “one of the largest notional bitcoin transactions in the history of crypto.” According to the company, the transfer was conducted as part of the investor’s estate planning strategy.

On-chain activity earlier this month showed the whale’s BTC moving to trading desks after more than a decade of inactivity, raising concerns about possible market impact. The overnight dip in BTC price on Thursday appeared to coincide with Galaxy’s transfers to exchanges, likely linked to the final execution of the sale.

Analysts See Potential Bottom Forming

With the large sale now complete, some analysts believe the recent correction may be ending. John Glover, CIO of crypto lending firm Ledn, suggested that Bitcoin could be forming a local bottom.

“Once completed (either today or over the weekend), I expect we’ll finish wave iii by rallying to around $132,000,” Glover wrote, referencing Elliott Wave analysis.

While short-term volatility persists, the resolution of the $9 billion sale may clear the path for renewed upside — especially if macro conditions and investor sentiment remain supportive in the weeks ahead.