Analyst: [80k BTC Ancient Whale] Selling Pressure may soon be fully absorbed by the market, with only 12k BTC remaining unsold

BlockBeats News, July 25th, on-chain data analyst Yu Jin posted on social media that today Galaxy Digital's address sent out 22,610 BTC (approximately $26 billion) to multiple addresses and exchanges, after which the 80,202 BTC (approximately $9.53 billion) of the [80,000 BTC Ancient Whale] has already seen sell pressure or has already been absorbed by 68,000 BTC. With another wave of selling, the coins of the [80,000 BTC Ancient Whale] could be completely absorbed.

Since July 15th, when the [80,000 BTC Ancient Whale] started transferring BTC to Galaxy Digital for sale to date, a total of about 68,000 BTC has been transferred to multiple exchange platforms and addresses in quantities of a few hundred BTC per transaction. The sales method should be secondary market sales and OTC. Among them:

14,000 BTC entered Binance;

8,975 BTC entered Bitstamp;

7,420 BTC entered Bybit;

7,150 BTC entered OKX;

And approximately 30,400 BTC was transferred to multiple independent addresses (possibly OTC buyers).

That is, the BTC of the [80,000 BTC Ancient Whale] still has about 12,000 BTC (approximately $1.38 billion) yet to be sold, and with the current market liquidity, absorbing the remaining coins will not have a significant impact.