Satoshi era Bitcoin whale moves $2B in BTC to Galaxy Digital as crypto market crashes ahead of US CPI and PPI data in a sell-the-news turn.
The start of Crypto Week was a sell-the-news event, as the price of Bitcoin (BTC) dropped almost 5% from its peak of $123,000, and the whole cryptocurrency market collapsed.
In a possible profit-booking move, Satoshi era Bitcoin whale recently transferred 18,643 Bitcoins valued at $2 billion to Galaxy Digital.
Today, altcoins such as Ethereum (ETH), Solana (SOL), XRP, Dogecoin (DOGE), and others are also experiencing a 3-8% decline.
Ahead of this week, all eyes will be on the US CPI and PPI statistics release for June.
Crypto Week Starts With Crypto Market Crash Soon
The GENIUS stablecoin bill, the CLARITY bill, and the anti-CBDC surveillance bill are the top three items on the agenda as the eagerly anticipated Crypto Week 2025 gets underway.
Bitcoin reached new all-time highs due to a robust crypto market surge over the last two weeks, which was welcomed by the crypto community.
But the start of Crypto Week is turning out to be a sell-the-news moment.
According to Coinglass data, $681 million has been liquidated in the past 24 hours due to today’s crypto market fall, with over $406 million of those liquidations being lengthy.
Top altcoins, including ETH, XRP, SOL, and others, are experiencing a similar decline as Bitcoin leads the larger cryptocurrency market.
Satoshi Era Bitcoin Whale Transfers $2 Billion BTC Once More
The Satoshi era Bitcoin whale known as “Bitcoin OG” has sent Galaxy Digital an extra 7,843 BTC worth around $927 million.
This brings the total number of recent transfers to 16,843 BTC, worth almost $2 billion.
LookonChain data indicates Galaxy Digital has transferred some of this Bitcoin to cryptocurrency exchanges.
Approximately $236 million, or 2,000 BTC, has been sent straight to Bybit and Binance thus far.
At current market values, the Bitcoin whale wallet belonging to the Satoshi era Bitcoin holder still holds 80,009 BTC, worth an estimated $9.46 billion.
Before US CPI, PPI data, Altcoins Are Bleeding
After recording double-digit gains over the previous week, popular cryptocurrencies such as Ethereum (ETH), XRP, Solana (SOL), etc., are seeing price declines of three to eight percent.
Because bulls must work harder for a durable rally, ETH and XRP have fallen below their primary resistance levels of $3,000 and $3.0, respectively.
Market investors are paying more attention to the impending US CPI and PPI statistics for June now that crypto week has begun.
An increase of 2.6% year over year and 0.3% month over month is predicted by economists.
This would represent an increase compared to the 2.4% annual rate from the previous month.
Further selling pressure in riskier assets like cryptocurrency could result from such an inflation print.
