🚨 This morning, Galaxy Digital moved 32,448 BTC — worth over $3.7 billion — with a big chunk headed to exchanges. 5 Key Charts about the movement 🧵👇

2/ A significant chunk of the BTC was sent directly to exchanges — and others are joining in. 📥 35,568 BTC in exchange inflows over the last 10 hours. 💸 Much of it is likely being sold (or already has been).

3/ Short-Term Holders are leading the sell-off. 💥 26,100 BTC — including Galaxy Digital’s — were sent to exchanges by STHs and sold at a loss.

4/ Selling pressure is mounting — and it's hitting Bitcoin hard. 📉 Price dropped from $119,450 to $114,726, a 4% since the selling pressure started.

5/ Traders are betting big on this move.🧠 📈 Open Interest jumped from $40.7B to $44.5B — a $3.8B increase (+9.7%).

@cryptoquant_com Live data 👇