Galaxy Digital OTC Desk Moves 1,346 BTC to Fresh Wallet, Sparking Accumulation Speculation

BitcoinWorld Galaxy Digital OTC Desk Moves 1,346 BTC to Fresh Wallet, Sparking Accumulation Speculation Blockchain tracking firm Spot On Chain reported on Thursday that a newly created Bitcoin wallet, identified as 167YVr, received 1,346 BTC — worth approximately $87.28 million at current market rates — from an address associated with Galaxy Digital’s over-the-counter (OTC) trading desk.

The transaction, which was recorded on-chain, has drawn attention from market observers who often interpret such movements as potential precursors to institutional accumulation.

On-Chain Data Signals Institutional Interest The transfer was flagged by Spot On Chain, a platform that monitors large cryptocurrency transactions and wallet activities.

According to the firm, the funds originated from a Galaxy Digital OTC desk address, a known counterparty for large-scale institutional trades.