Satoshi Era Bitcoin Whale Moves $2B BTC As Crypto Week Commences

Bitcoin Crypto

Satoshi Era Bitcoin Whale Moves $2B BTC As Crypto Week Commences

The commencement of the Crypto Week has proved to be a sell-the-news event as the broader crypto market crashed with Bitcoin (BTC) price retracing nearly 5% from its all-time highs of $123,000. A Saotshi-era Bitcoin whale has recently moved 18,643 Bitcoins worth $2 billion to Galaxy Digital, as a potential profit-booking move.

Altcoins like Ethereum (ETH), Solana (SOL) XRP, Dogecoin (DOGE), etc. are also seeing a pullback anywhere between 3-8% today. All eyes will be on the release of the US CPI and PPI data for June, ahead of this week.

Crypto Market Crash Soon As Crypto Week Begins

As the much-awaited Crypto Week 2025 commences, the top three things on the agenda are the GENIUS stablecoin bill, the CLARITY Bill, and the anti-CBDC surveillance bill. The crypto community cheered this development with a strong crypto market rally over the past two weeks, taking Bitcoin to fresh all-time highs.

However, it seems that the commencement of the crypto week is proving a sell-the-news event. With todays crypto market crash, a total of $681 million have been liquidated in the last 24 hours, with more than $406 million in long liquidations as per the Coinglass data. With Bitcoin leading the broader cryptocurrency market, top altcoins like ETH, XRP, SOL, etc. are also facing a similar drop.

Satoshi-Era Bitcoin Whale Moves $2 Billion BTC Again

The Satoshi-era Bitcoin whale dubbed “Bitcoin OG” has transferred an additional 7,843 BTC, worth nearly $927 million, to Galaxy Digital, bringing total recent transfers to 16,843 BTC valued at around $2 billion.

Source: Arkham Intelligence

According to LookonChain data, Galaxy Digital has begun depositing portions of this BTC to crypto exchanges. To date, 2,000 BTC, roughly $236 million, has been directly sent to platforms including Bybit and Binance.

The Bitcoin whale wallet associated with the Satoshi-era BTC holder still retains 80,009 BTC, with a total estimated value of $9.46 billion at current market prices.

Altcoins Bleed Ahead of US CPI, PPI Data

Top altcoins like Ethereum (ETH), XRP, Solana (SOL), etc., are seeing price drops in the magnitude of 3-8% after clocking double-digit gains over the past week. As a result, ETH, XRP have dropped under their key resistance levels of $3,000, and $3.0, respectively, as bulls need to put a greater effort for a sustained rally.

With the crypto week commencing, market investors are putting greater emphasis on the upcoming US CPI and PPI data for June. Economists are forecasting a rise of 0.3% month-over-month and 2.6% year-over-year. This would mark an increase from the previous months 2.4% annual rate. Such an inflation print could lead to further selling pressure in risk-on assets like crypto.