Bitcoin OG Moves $4.68B to Galaxy Digital, $706M Hits Binance and Bybit

The deposits include multiple tranches, such as 400 BTC, 380 BTC, and others routed to Binance wallets. Bybit also received deposits ranging from 210 BTC to 290 BTC, per Lookonchain’s blockchain tracker. These movements suggest preparation for potential market activity or liquidation.

This aligns with on-chain data from Glassnode, which shows $3.5B in realized BTC profits over the past 24 hours—one of 2025’s largest. Long-term holders accounted for $1.96B, or 56% of the total, signaling major repositioning among seasoned investors. The resulting wave of selling contributed to a nearly 5% decline in BTC price, highlighting the market impact of these large-scale moves.

Profit-Taking and Large BTC Moves Trigger Market Volatility

CryptoQuant data shows a sharp decline in bullish futures positioning following recent whale activity and profit-taking. Analyst Axel Adler Jr. noted a surge in short interest and a flip in the long-to-short ratio into negative territory. According to him, bulls need to hold the $117,000 level to avoid further downside risk.

Adding to the technical picture, Titan of Crypto noted that BTC has now retested a key breakout level and remains just above critical support. These supports include the Tenkan line near $115,400 and a Fair Value Gap stretching from $115,200 to $112,000. Holding this zone is seen as essential for any potential rebound in price action.

At the same time, high-leverage trading activity intensified. Lookonchain reported that James Wynn deposited 468K USDC into Hyperliquid and opened a 40x leveraged long on BTC. With his liquidation level set at $115,570, the position faces significant risk if BTC breaches support in the current volatile environment.