Galaxy Digital wallets recorded an outflow of approximately 200 BTC, according to CryptoQuant data. This movement coincides with Bitcoin’s price falling below $95,000, its lowest level since May.
Selling pressure is attributed to expectations of higher Fed interest rates, reducing the appeal of risk assets. Institutional flows into Bitcoin have also decreased, removing key price support.
Derivatives data shows increased put option activity while large holders continue moving coins. Galaxy had executed significant BTC sales during the third quarter as part of client transactions.
Source: CryptoQuant and Maartunn (@JA_Maartun)
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