- Main event, leadership changes, market impact, financial shifts, or expert insights.
- Galaxy Digital’s role in 80,000 BTC sale.
- Support at $117,000 halted further decline.
Bitcoin dropped below $117,000 due to large institutional sell-offs by Galaxy Digital, sparking market volatility. Despite the decline, the price quickly rebounded with strong support at $117K, showcasing resilient institutional demand and accumulation.
Bitcoin dipped below $117,000 in late July 2025 following significant institutional sell-offs led by Galaxy Digital. The market quickly rebounded due to strong demand and key support levels.
Traders are closely watching Bitcoin’s price movement following Galaxy Digital’s sale. Analysts underscore the critical response of institutional buyers, highlighting the strategic absorption of 80,000 BTC despite initial volatility.
Bitcoin briefly fell below $117,000
Triggered by institutional activity. Galaxy Digital managed the sale of 80,000 BTC, sparking immediate market fluctuations. This move emphasized the market’s vulnerability to large-scale transactions and the resilience shown in the subsequent price rebound.
Galaxy Digital CEO Mike Novogratz
Described the sale as a landmark transaction, illustrating its significant market impact. Analysts like Joe Consorti noted Bitcoin’s intrinsic strength, pointing to its rapid stabilization post-sell-off and strong support at strategic price levels.
“80,000 BTC, over $9 billion, was sold into open market order books, and Bitcoin barely moved,” underscoring market resilience – Joe Consorti, Market Analyst, Theya.
The event impacted investor sentiment, with temporary effects on Bitcoin and Ethereum prices but no severe disruptions reported. The $9 billion transaction precipitated over $646 million in derivatives liquidations, yet institutions continued their aggressive accumulation, underscoring ongoing engagement with the crypto market.
Market observers predict that volatility may persist, but historical patterns indicate potential for recovery. Analysts foresee continuous institutional participation in Bitcoin, suggesting that strategic acquisition phases may counteract the effects of large-scale sales. The defended support zone at $117,259 to $117,468 remains a focal point for sustaining price levels.
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