Bitcoin witnessed tremendous fluctuations after confirming that Galaxy Digital has carried out the sale of 80,000 BTC on behalf of a long -term customer. The company’s press statement revealed on July 25 that the transaction, one of the largest virtual bitcoin sales in history, has been successfully completed and the market is shaken immediately. The news spread quickly through the encryption space, which leads to sharp speculation and fluctuations.
At its peak, Bitcoin recently touched a brand of $ 123,000, but the advertisement motivated a significant sale and raised fears that this might represent a local summit. Short -term holders began to achieve losses with a decline in the price, while analysts discussed whether this historical exit indicates its distribution at the top or just a healthy stop in the direction of a longer bull.
Since the role of Galaxy in transport becomes more clear, attention turns into the wider effects. Many market participants are now wondering whether more old forces holders are preparing to go out and what may have an impact on the Bitcoin path forward. With the increased fluctuations and the morale of the investors, all eyes revolve around how the market absorbed this sale of 9 billion dollars and whether the support levels will keep them in the coming days.
Historical exit: selling bitcoin market speculation, higher local fear
Galaxy Digital has confirmed the successful implementation of one of the largest virtual Bitcoin transactions in the date of encryption. The company has completed the sale of more than 80,000 BTC- which was evaluated by more than 9 billion dollars at the current market prices-on behalf of the Satoshi investor. According to the company, this historical sale was part of the broader real estate planning strategy, which represents one of the first and most important exits from the digital asset market so far.
The advertisement has sent ripples across the market, not only because of the vast volume of Bitcoin concerned, but also because of the speculation surrounding the investor’s identity. Since the details remain confidential, many analysts discuss whether the step indicates a shift in market morale or simply reflects the achievement of natural profits after the lengthy bull direction.
Some analysts argue that this sale is part of a healthy session, as its first owners begin to achieve gains after years of adhering to multiple market courses. They believe that the market has liquidity and institutional interest to absorb such a sale without long -term damage. However, others explain the timing and size of the sale as a potential warning sign – indicating that Bitcoin may have reached a local summit on the brand of $ 123,000.
BTC faces a critical re -test after the collapse below
Bitcoin is trading at $ 117,407 after a short period of time to less than $ 115,724 in the support area that was placed on the graph. This level was the minimum range that began to be formed in early July, with resistance at 122,077.61 dollars. The price reaction was quickly after the collapse, and the SMA restored for 50 days on the graph for 8 hours, indicating that the withdrawal may be a sweep of liquidity rather than the reflection of the sure direction.
Its size increased during the decline, indicating the benefit of the aggressive purchase near support. However, Bitcoin is still less than 50-SMA ($ 117,593), which now operates as an immediate resistance. The 100-SMA and 200-SMA remains comfortable comfortably, which confirms that the bullish structure in the long term is sound, although the momentum weakens in the short term.
If Bulls managed to push BTC back above an area of $ 118,000 and restore range levels, there is likely to be a re -test of $ 122,000. On the other hand, failure to keep more than $ 115,724 a decrease of about 100-SMA at $ 112,548, or even 200-SMA at $ 109,436 if the sale accelerates.
Distinctive image from Dall-E, the tradingView graph
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