An anonymous whale transferred 546.8 BTC worth about $34.7 million to a Galaxy Digital address on February 12, according to on-chain data monitored by Onchain Lens. The receiving wallet is associated with Galaxy Digital's trading desk, suggesting the move may have been an over-the-counter trade, though the exact purpose was not confirmed and could have included a sale, purchase or custody transfer. OTC desks are commonly used by institutions and large holders to execute block trades away from public order books, limiting slippage and visible market disruption. The transfer came with Bitcoin trading roughly between $62,000 and $65,000 over the past week, underscoring continued whale activity as institutional participation in crypto markets grows.