Galaxy Digital Dumps 2,800 BTC: Bitcoin’s $90K Dream Crashes! 🚀💥

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Bitcoin has officially slipped into the realm of the “I told you so” crowd, where the only thing more abundant than fear is the number of people who knew this was coming. The drop has triggered a collective gasp so loud, even the moon paused mid-swing to check if it was still in orbit. 🌕

According to top analyst Darkfost, one of the driving forces behind the latest downturn is persistent selling from major institutional players. Data shows that Galaxy Digital has been offloading significant amounts of BTC, which is like watching a toddler throw a tantrum while everyone else tries to fix the world. 🍬

While sentiment is undeniably fearful, the combination of forced liquidations, institutional selling, and panic-driven exits may be creating the final stage of a broader reset – one that historically precedes major cycle reversals. Or, as someone once said, “The market is a fickle mistress, and she’s currently wearing a frown.” 😒

Darkfost reports that Galaxy Digital has been exceptionally active over the past several hours, adding considerable pressure to an already fragile Bitcoin market. The firm moved more than 2,800 BTC, a sizeable amount given the current environment of fear and declining liquidity. It’s like trying to hold a balloon in a hurricane. 🌬️

A particularly notable portion of this activity is the 1,474 BTC transferred to Coinbase Prime, equivalent to roughly $135 million at recent prices. Such large inflows to an institutional exchange are typically interpreted as preparation to sell, and this wave of supply appears to have coincided with Bitcoin’s accelerated move below the $90,000 level. It’s as if the market said, “Not today, Satan.” 🔥

This type of selling activity from a major player like Galaxy Digital carries significant market implications. When large, sophisticated entities reduce exposure during a period of heightened volatility, it often intensifies fear among retail traders and shorter-term participants. The timing of these transfers – occurring as Bitcoin was already slipping through critical support zones – likely amplified the downside impact, contributing to the sharp overnight drop. It’s like watching a house of cards get hit by a tornado. 🧱🌪️

However, while the immediate effect is clearly negative, analysts like Darkfost emphasize that such phases of heavy selling and forced repositioning are also characteristic of late-stage corrections. Once large sellers finish distributing, markets often stabilize and rebuild from stronger hands. Or, as the old saying goes, “Every cloud has a silver lining – unless it’s a Bitcoin cloud, in which case it’s just a dark, ominous thing.” ☁️

Bitcoin’s price action on the 3-day chart shows a decisive breakdown, with BTC now trading around $90,400, sitting directly on top of the 200 moving average (red line) – a level that has historically acted as a final line of defense during major corrections. It’s like standing at the edge of a cliff, hoping the ground doesn’t decide to vanish. 🪨

The rejection from the $110K-$115K zone triggered a cascade of lower highs, shifting market structure firmly into a short-term downtrend. Momentum has deteriorated quickly, and the clean break below both the 20-day (blue) and 50-day (green) moving averages confirms bearish control. It’s like a rollercoaster that’s decided to go upside down without warning. 🎢

Volume has spiked noticeably during the most recent candles, indicating forced selling and liquidation-driven moves rather than organic distribution. This aligns with the broader fear-driven environment and recent data showing large entities, including Galaxy Digital, offloading significant amounts of BTC. The high-volume flush suggests capitulation behavior, especially as Bitcoin revisits levels not tested since early 2025. It’s like a party where everyone’s leaving early and taking the snacks. 🍿

If buyers defend this level and the price stabilizes, it could mark the beginning of a base formation. However, a clean breakdown below the 200 MA would expose the next major support near $82K-$85K, signaling deeper downside risk. It’s like playing a game of chess where the pieces keep moving on their own. 🏰

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2025-11-18 22:49