The winds of change are blowing through the digital mines of Mike Novogratz’s Galaxy Digital, where BTC is being shoveled out like coal from a stubborn mule’s back. Analytics firm CryptoQuant, that modern-day oracle of blockchain, whispers of 1,531 BTC fleeing the nest. “A clear sign,” croons analyst JA Maartun, “of short-term selling pressure-because nothing says ‘confidence’ like tossing coins into the void.”
Bitcoin, that old mule of the market, sits stubbornly below the $110,000 hill, its hooves churning dust in a futile attempt to reclaim ground. The bulls, armed with optimism and caffeine, stare up the slope like farmers eyeing a drought.
Why Galaxy is Selling Coins
Galaxy, a merchant of digital gold, tends to the vaults of hedge funds and institutions, their orders whispered through the back alleys of over-the-counter deals. In Q2, they moved 80,000 BTC-a heist so grand it made headlines blush. Since then, on-chain sleuths have tracked a parade of BTC fleeing the stable: 411 BTC on Oct. 24, like a herd of digital bison stampeding through a crypto corral.
“Rushing In”
U.Today, that scribe of crypto sentiment, reports the “Fear and Greed” meter has slithered back into the “fear” quadrant, where panic wears a tuxedo. Yet Bitwise’s Honter Horsley, with the conviction of a preacher, insists institutions are “rushing in.” “Bitcoin’s at $110,000, regulations are chill, and the crowd’s dancing!” he declares, as if the market’s a party that forgot to invite the bears.
But lo! The ETF outflows whisper a different tale-a ghost story of capital slipping away like sand through a sieve. The market’s a fickle lover, tossing coins like confetti at a funeral. 💰👻
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2025-10-31 22:18