Fold celebrates its listing as the first Bitcoin fintech to get listed on the Nasdaq.

Fold holds Opening Bell ceremony for the first Bitcoin financial services listing on Nasdaq

Bitcoin’s drop below $115,000 saw significant liquidations of late longs, but 
BTC’s bullish scenario remains intact, according to analysts and onchain 
metrics.

Bitcoin grabs $115K liquidity as whale bets on $200K BTC price by year-end

According to blockchain analysts, the $9.6 billion sale may be absorbed by 
crypto markets without a significant market impact.

Satoshi-era $9.6B Bitcoin OG: Galaxy moves another $1.1B to exchanges

Bitcoin’s summer melt-up has come to an abrupt halt. The benchmark 
cryptocurrency slipped from an intraday peak above $119,000 late Thursday to 
trade as low as $115,800 in European morning hours, its weakest print in a 
fortnight. The 2.7 percentage-point slide followed an unmistakable on-chain 
signal: Galaxy Digital quietly pushed more than 10,000 BTC—worth about $1.18 
billion at the time—onto major exchanges in less than eight hours, according 
to wallet-tracking firm Lookonchain. Galaxy Digital Triggers Bitcoin Slide 
“Bitcoin sell-off still underway! Galaxy Digital deposited another 2,850 BTC 
($330.44M) to exchanges,” Lookonchain warned on X in the early European 
morning hours, noting that the transfer originated from a Satoshi-era whale 
that re-awakened this month. Prior to that, the analytics account posted an 
alert: “Note that Galaxy Digital has deposited over 10,000 BTC ($1.18B) to 
exchanges in the past 8 hours!” Screenshots of Arkham Intelligence dashboards 
showed a series of multi-million-dollar transactions converging on Binance, 
Bybit and OKX. Related Reading: Bitcoin Rally Signal? Analyst Links Binance 
Spot Volume Surges To Price Upswings The flows are the latest chapter in a 
saga that began on 4 July, when an address dormant since 2011 started chopping 
an 80,009-BTC trove into 10,000-coin tranches. By 18 July the final 40,191 
BTC—worth $4.8 billion—had landed at Galaxy, a move many analysts interpreted 
as a potential sale. That potential is now reality. On-chain data shows Galaxy 
sends Bitcoin to various crypto exchanges almost every minute to sell it. The 
BTC price is reacting with textbook symmetry: spot BTC slipped through 
$118,000 during the Asian session before knifing to $116,000 as London desks 
opened, wiping roughly $55 billion from bitcoin’s market value in just 4 
hours. Galaxy Digital, run by billionaire Michael Novogratz, offered no public 
comment at the time of writing and has not filed any Form 8-K that might 
indicate a balance-sheet reshuffle. The firm’s most recent media appearance 
came on CNBC yesterday, where Novogratz repeated his view that Ether could 
“outperform&#8221; bitcoin over the next few months,” but did not hint at near-term 
selling. Related Reading: Are Traders Walking Into a Bitcoin Bull Trap at 
$118K? Here’s What the Data Shows While motives remain opaque, market 
spectators were quick to theorise. “Looks like the Bitcoin selloff is Galaxy 
Digital market dumping from a batch of 80K BTC. Could be because they were 
asked to for a client, something related to Saylor, or moving into Ethereum as 
Novogratz suggested ETH may move more than BTC in the next few months (today 
on CNBC). Not worried. They have about 27K left to sell (if they’re selling 
the full 80k), people buy, life goes on, it continues upwards,” the crypto- 
focused account Autism Capital posted via X. Capriole Investments founder 
Charles Edwards commented via X: “At the same time that this OG whale is 
dropping 10K slugs into spot markets today, we have 30K of leveraged longs 
opening on the dip. Not a price prediction and changes nothing mid- to long- 
term, but this is not a great sign for the short-term price action. Even if 
all 80K BTC are nuked, if Treasury Company demand remains consistent, it will 
all be consumed in a couple weeks.” At press time, BTC traded at $115,476. 
Featured image created with DALL.E, chart from TradingView.com

Bitcoin Price Bleeds As Galaxy Digital Unleashes $1.5 Billion Sell-Off

While politicians do their politicking and regulators do their regulating, 
crypto users should keep calm and carry on.

Stablecoin skirmishes and CBDC conflicts: Onchain politics will spark blockchain battles | Opinion

Bitcoin traders continue to grapple with mass selling of &#8220;OG&#8221; BTC, but RSI 
values are already hinting at a recovery after a trip to single digits.