A newly created Bitcoin wallet has drawn attention after a huge transfer from Galaxy Digital. Blockchain data shows the wallet, labeled “3FPtXq”, received 1,506 BTC in total. That is worth about $163.5 million in the last hour. Arkham Intelligence data showed, the wallet got three large deposits from Galaxy Digital addresses. The biggest was 515.83 BTC, worth nearly $56 million. Another 500 BTC, valued at $54.3 million, followed. A third transfer added 490 BTC, equal to about $53.2 million. Together, these transfers reached more than $163 million. Before the large moves, a small test of 0.00011 BTC ($11.93) was sent around 15 hours earlier. This is often done to confirm wallet activity before a major transfer.
Why It Matters
Galaxy Digital is a major name in the crypto investment space. The firm runs businesses in trading, mining, and infrastructure. Moving such a large amount of Bitcoin suggests possible changes in custody, client allocations, or storage strategy. Big transfers like this often raise questions in the market. While there is no sign this is linked to selling, traders watch closely when large amounts shift. A new wallet holding more than 1,500 BTC could point to internal reorganization.
Market Context
This move comes as Bitcoin prices remain sensitive to large institutional flows. On-chain transactions of this size can affect market sentiment, especially when linked to major firms. Investors often look at such activity for clues about selling pressure or accumulation. Many institutions have been changing their digital asset strategies in recent months. With new rules, rising demand for custody, and growing interest from clients, companies are rethinking how they hold and manage Bitcoin. Galaxy’s latest transfer may be part of this wider shift.
Outlook
It is still unclear if this transfer was for clients, internal management, or strategic positioning. What is clear is the scale. A wallet this size highlights the growing influence of institutions on Bitcoin’s liquidity. Market watchers are expected to follow this wallet closely. Any future movement could offer hints about broader market trends. For now, the event shows that large Bitcoin flows remain dominated by institutional players, and their decisions can quickly shape market direction.