Anonymous Whale Moves 546.8 BTC to Galaxy Digital in OTC Trade

An anonymous cryptocurrency whale has transferred 546.8 Bitcoin, worth approximately $34.7 million at current market prices, to Galaxy Digital, according to on-chain data monitored by Onchain Lens. The transfer, which took place on February 12, 2025, is believed to be part of an over-the-counter (OTC) trade, a common method for large investors to buy or sell digital assets without impacting public exchange prices.

What the On-Chain Data Shows

Blockchain analysis reveals that the whale’s wallet sent the $BTC directly to a Galaxy Digital address. While the exact nature of the transaction—whether it was a sale, purchase, or custody transfer—has not been officially confirmed, the destination address is associated with Galaxy Digital’s trading desk. OTC trades are typically used by institutional investors and high-net-worth individuals to execute large orders discreetly, avoiding the slippage and market volatility that can result from placing such orders on public order books.

This move comes amid a period of relative stability for Bitcoin, which has been trading in a range between $62,000 and $65,000 over the past week. Large transfers to known trading desks often signal potential market positioning, though they do not necessarily predict immediate price movements.