Crypto Crash Looms as Satoshi-Era Whale Moves $2B in BTC

Crypto Crash Looms as Satoshi-Era Whale Moves $2B in BTC

With the price of Bitcoin (BTC) dropping around 5% from its all-time high of $123,000, the beginning of Crypto Week turned out to be a sell-the-news event as the whole cryptocurrency market crashed.

Whale Activity Shakes the Market

According to reports, a Bitcoin whale from the Saotshi era sent Galaxy Digital 18,643 Bitcoins valued at $2 billion in an apparent attempt to book profits. Today, there are 3-8% price declines for altcoins such as Dogecoin (DOGE), Solana (SOL), XRP, Ethereum (ETH), and others. All eyes will be on the publication of June’s US CPI and PPI statistics, which are expected this week.

Crypto Week 2025: A Mixed Start

As the eagerly anticipated Crypto Week 2025 begins, the top three items on the schedule are the GENIUS stablecoin bill, the CLARITY Bill, and the anti-CBDC surveillance measure. The crypto community celebrated this breakthrough with a powerful crypto market surge over the last two weeks, which propelled Bitcoin to new all-time highs.

However, it appears that the start of crypto week is causing a sell-the-news event. According to Coinglass figures, $681 million was liquidated in the last 24 hours due to the decline in the cryptocurrency market today, with over $406 million of that amount coming from lengthy liquidations. With Bitcoin leading the overall cryptocurrency market, popular altcoins, such as ETH, XRP, SOL, and others, are experiencing a similar decrease.

The Satoshi-era Bitcoin whale known as “Bitcoin OG” has moved an additional 7,843 BTC, worth almost $927 million, to Galaxy Digital, increasing the total recent transactions to 16,843 BTC, worth over $2 billion.

LookonChain data indicates that Galaxy Digital has begun transferring a portion of this Bitcoin to cryptocurrency exchanges.

Altcoins React to Market Sell-Off

After seeing double-digit price hikes in the previous week, popular cryptocurrencies, including Ethereum (ETH), XRP, and Solana (SOL), are now experiencing 3-8% price decreases.  Because bulls need to exert more effort for a longer rise, ETH and XRP have dropped below their key resistance levels of $3,000 and $3.0, respectively. Market players are paying closer attention to the expected US CPI and PPI data for June now that Bitcoin Week has begun.

Inflation Data in Focus

An annual growth of 2.6% and a monthly gain of 0.3% are forecast by economists.  This would be higher than the 2.4% annual rate from the prior month.  An inflationary print like this might make it more difficult to sell riskier assets like cryptocurrencies.

Ready to Start Mining Safely?

VoskCoin Mining Profitability

Co-rent Real ASIC Hashrate from the VoskCoin Mining Farm.