Whales Bought 15,000 Bitcoin in Three Days While MARA Sold $81 Million. Who Has It Right?
Whales added about 15,000 BTC after the October 7 drop, while MARA said its sales help repay debt and fund operations.
- On Friday, October 9, MARA Holdings transferred approximately 996 BTC to Galaxy Digital, a transaction valued at about $81 million according to blockchain data tracked by Lookonchain.
- The company has stated its intention to "continue to monetize bitcoin opportunistically to fund operations and capital projects," reducing total debt from $3.6 billion to about $2.4 billion through strategic sales.
- In the days after the October 7 price decline, Bitcoin whales accumulated about 15,000 BTC worth around $1.24 billion, according to analyst Ali Martinez, while smaller wallets shed holdings.
- The firm's holdings decreased to 35,303 BTC, valued at about $2.92 billion, after the transfer represented roughly 2.8% of the company's total Bitcoin treasury.
- As of October 10, Bitcoin is trading at $82,801, down 2.1% over the week, while the firm's selling strategy tracks financing schedules rather than price forecasts—Bitcoin trades 17% above MARA's first-half average sale price.
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BizTocWhales Bought 15,000 Bitcoin in Three Days While MARA Sold $81 Million. Who Has It Right?
Bitcoin whales poured over a billion dollars into the market right after a sharp decline, while one of the biggest mining companies quietly cashed out. Their opposing moves point to very different views on where Bitcoin goes from here.
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Cryptocurrency News | Cryptocurrency Prices | Market CapMARA Holdings moves $81M in BTC, is Bitcoin price at risk?
MARA Holdings has transferred nearly 1,000 Bitcoin worth approximately $81.13 million to Galaxy Digital, according to blockchain transaction data flagged by onchain analytics platform Lookonchain. In an October 9 post on X, Lookonchain identified a transfer of 996.105 BTC from…
MARA Moves $81M in BTC as U.S. Government Transfers Raise Selling Concerns
Key Insights: Bitcoin news turned to another large institutional transfer on Oct. 9 after MARA Holdings moved 996.105 BTC worth approximately $81.13 million to Galaxy Digital. The transaction followed several days of large movements from U.S. government-linked Bitcoin wallets. Neither development proves that the transferred Bitcoin was sold. However, the movements arrived as short-term holders […]
MARA Holdings transferred 996 BTC valued at approximately $81.3 million on October 9, according to Lookonchain’s on-chain follow-up. The movement had as its destination a direction linked to Galaxy Digital, while the mining company continues to expand its infrastructure strategy, and the transfer represents a significant movement of Bitcoin but does not confirm on its own... Read more
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