Galaxy Digital Sells $38M in Bitcoin on Binance

Galaxy Digital has transferred 600 Bitcoin (BTC) worth approximately $38.4 million to Binance, according to on-chain data from Arkham Intelligence.

The transaction originated from an address estimated to be associated with Galaxy Digital and represents a notable amount, equivalent to roughly 0.003% of Bitcoin's circulating supply.

While exchange deposits are often interpreted as potential sell signals, institutional activity is complex and may involve multiple factors such as treasury management, collateral movement, or over-the-counter (OTC) trade settlements.