Bitcoin miner MARA Holdings moved 996.105 BTC worth about $81.13 million to Galaxy Digital on October 9, according to onchain data from Lookonchain. The transfer landed as the broader crypto market absorbed more than $1 billion in liquidations over 24 hours, and Bitcoin's own technical indicators still point to near-term selling pressure.
MARA transfer coincides with market-wide liquidations
Lookonchain identified the 996.105 BTC movement from a wallet labeled MARA Miner to an address tied to Galaxy Digital, and the analytics firm suggested the miner may have sold the coins. However, the available transaction data does not establish whether Galaxy Digital executed a sale on MARA's behalf or received the Bitcoin for another purpose.
The transfer coincided with over $1 billion in crypto market liquidations in 24 hours, according to CoinGlass data cited by CoinGape. More than 181,000 traders were liquidated, with the largest single order on Hyperliquid involving an ETH sale valued at $19.98 million. Bitcoin alone recorded nearly $220 million in long liquidations. Ethereum led with more than $280 million.
Bitcoin slides then claws back some losses
Bitcoin traded near $82,300 on October 9 after falling from around $85,578 on October 6 to $81,706 at the October 8 close, touching an intraday low near $80,514 before recovering. The decline came amid elevated oil prices tied to renewed US-Iran tensions, a 10-year Treasury yield at a 24-year high, and outflows from spot Bitcoin ETFs.
After Trump ruled out strikes against Iran before the midterm elections, Bitcoin rebounded above $82,600 as oil prices eased. The 10-year Treasury yield fell to 5.24% from 5.35% over the same stretch, and the dollar index slipped toward 102.
Technicals still favor sellers in the short term
Bitcoin's 14-day RSI sat around 49, leaving room for further declines before oversold territory. The asset traded below its 10-day and 20-day exponential moving averages at $83,734 and $83,226, both carrying sell signals. The MACD stayed below its signal line.
A continued slide could send Bitcoin back toward its recent low near $80,514, with a break below exposing the 50-day EMA near $79,742 and then support around $76,638. BTC still held above its 50-day and 200-day EMAs, both on buy signals, with the 200-day near $75,302. A recovery above the $83,226–$83,734 zone could open the way toward resistance near $87,061.
A pattern of treasury sales
MARA, formerly Marathon Digital Holdings, disclosed in its second-quarter 2026 shareholder letter that it held 35,577 BTC as of June 30. During the quarter, the company sold 2,213 BTC and deployed another 4,742 BTC through lending arrangements. The latest transfer equaled roughly 2.8% of that June 30 balance, though the company's current treasury may have since changed. MARA has not offered a transaction-specific explanation for the October 9 movement.
Sources: crypto.news, CoinGape
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