Summary: Bitcoin Plunges as Galaxy Digital Deposits $1.5 Billion Worth of BTC to Exchanges

Bitcoin Plunges: Ancient Whale Sparks Market Mayhem! The Bitcoin market is reeling from a massive sell-off, spearheaded by financial services firm Galaxy Digital. Analytics firm Lookonchain reports Galaxy Digital initially deposited a colossal 10,000 BTC, valued at roughly $1.18 billion, to exchanges. This immediate influx sent Bitcoin's price spiraling, briefly hitting $115,125 – its lowest point since early July. Adding fuel to the fire, Galaxy Digital swiftly followed with another significant deposit of 2,850 BTC, approximately $330 million, signaling continued selling pressure. Crucially, these immense transfers originated from a legendary "Satoshi-era whale" whose $4.77 billion fortune was recently entrusted to Galaxy Digital. The market's sharp downturn had severe consequences for leveraged traders. Prominent whale AguilaTrades faced a partial liquidation on a 20x long position, losing $2.1 million, and now holds a $4 million floating loss. Overall, CoinGlass data reveals a staggering $706.66 million in crypto liquidations over 24 hours. A dominant $551.67 million of this wipeout came from long positions, reflecting widespread capitulation. As Bitcoin struggles to recover near $115,564, the sheer scale of an ancient whale's movements, channeled through Galaxy Digital, vividly demonstrates the power of large holders to unleash market volatility and redefine price action.