October 17, 2025
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#Exchange News

Binance, Bybit, and Others Absorb Over 30K BTC From Galaxy Wallet Transfers

Over 30K BTC moved from Galaxy Digital to Binance, Bybit, and others as market watchers analyze the impact

Galaxy Moves Over 30,000 BTC — Binance and Bybit Lead the Receivers

In a massive on-chain shake-up, wallets tied to Galaxy Digital have moved over 30,000 BTC across exchanges and anonymous wallets within a 14-hour period. The transfers—first flagged by blockchain analysts—have caught the attention of crypto market watchers around the globe.

The flows follow a high-profile movement of 80,000 BTC earlier this month from a long-dormant 2011 bitcoin whale, who eventually transferred the stash into Galaxy-associated wallets.

Breakdown of the 27K+ BTC Outflows

From the estimated 30,000+ BTC, analysts were able to track 26,971.916 BTC, with roughly $1.43 billion (12,355.315 BTC) flowing into unlabeled wallets. These could represent:

  • Cold storage consolidations
  • OTC trades
  • Institutional transfers
  • Collateral placements

The rest was distributed across major crypto exchanges and counterparties:

Exchange/WalletBTC Received
Binance5,500 BTC
Bybit3,754 BTC
OKX2,880 BTC
Bitstamp2,469.001 BTC
Coinbase PrimeSmaller deposits

The largest single transfer involved 515 BTC, split across 40+ transactions.

BTC Price Reacts With 3% Dip

The timing of these massive flows coincided with a ~3% dip in Bitcoin’s price, sparking speculation about their market impact. While no direct link has been confirmed, the volume and speed of the transfers have raised concerns about short-term selling pressure or liquidity reshuffling.

Galaxy Still Holds $1.5B in BTC

Despite the outflows, Galaxy Digital remains a major BTC holder. According to Arkham Intelligence, as of 2 p.m. EST Friday, Galaxy’s tagged wallets still hold:

  • 12,952 BTC (~$1.5 billion)
  • $381 million in ETH, SOL, USDT, USDC, and other assets
  • $42.59 million in Coinbase’s wrapped bitcoin token (wBTC)

What’s Behind the Transfers?

While some BTC landed on exchanges, a significant amount went to unattributed wallets, hinting at more strategic institutional activity rather than retail dumping.

Whether this move is a broader strategic positioning by Galaxy or a one-off internal reshuffle remains to be seen. Either way, analysts expect these flows to remain under close watch in the coming weeks.

Binance, Bybit, and Others Absorb Over 30K BTC From Galaxy Wallet Transfers

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