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Galaxy Digital Moves $87M in BTC to Fresh Wallet, Fueling Accumulation Speculation

Guavy AI Editorial Team
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BTC
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Galaxy Digital's over-the-counter (OTC) trading desk has moved 1,346 BTC to a new wallet, sparking speculation about potential institutional accumulation.

The transfer, worth approximately $87.28 million at current market rates, was recorded on-chain by blockchain tracking firm Spot On Chain.

Spot On Chain reported that the funds originated from an address associated with Galaxy Digital's OTC desk and were moved to a new wallet with no prior transaction history, suggesting they may be earmarked for custody or long-term storage.

The transfer has drawn attention from market observers who often interpret large institutional trades as precursors to price rallies.

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