Galaxy Digital Download 80,000 BTC: Bitcoin faces pressure as Ethereum wins impulse
In an impressive development that is shaking the global cryptocurrency markets, Galaxy Digital has confirmed the completion of one of the largest bitcoin transactions in history, selling 80,000 BTC valued at more than $ 9 billion. The digital asset manager revealed that the sale was executed on behalf of an inactive Bitcoin whale, whose holdings date back to April 2011, a time when Bitcoin was quoted only $ 0.78.
The sale, completed on July 18, implied the 80,000 BTC movement, was strategically divided into eight wallets for more than a decade, in several exchanges, feeding generalized speculations and a marked change in the feeling of the market.
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An inactive giant wakes up
The reactivation of the inactive whale has lit an intense scrutiny. The Blockchain Lookonchain analysis firm drew the funds and verified that the original headline never moved the coins for more than 13 years. Then, suddenly, on July 18, the whale began the transfer, and Galaxy Digital confirmed that it facilitated sales for several days.
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Galaxy pointed out that the transaction was part of a “patrimonial planning strategy”, although this has done little to quell concerns that the movement could indicate a broader uncertainty among the first cryptographic investors. The time of the transaction, coinciding with the fall of Bitcoin prices of a historical maximum of $ 122,000 to around $ 115,000, has been asked if the sale was coordinated to design a more accessible price for new investors.
Market repercussions: the price of BTC faces key resistance
The price of Bitcoin has responded with visible stress. From the last negotiation session, BTC is around $ 117,429, even below the crucial resistance level of $ 118,500– $ 119,500, a barrier that has repeatedly denied the ascending movement. Analysts warn that unless Bitcoin decisively crosses the roof of $ 120,000, the possibility of a broader correction is real and pressing.
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The technical indicators show a RSI of 58.86, which suggests a neutral posture, neither over -sales nor strongly optimistic. However, the level of psychological support at $ 100,000 is now under threat. If this threshold broke, analysts predict that the potential falls to $ 95,000 or even as low as $ 90,000.
The general feeling of the market is cautious. With the estimated probability of significant price correction in 65%, institutional and retail investors are preparing for greater volatility.
Ethereum steals the center of attention
While Bitcoin deals with its winds against bassists, Ethereum seems to be attracting renewed attention. After Bitcoin’s overthrow, Lookonchain’s data reveal a surprising change: the great cryptography holders, commonly known as “whales”, are reassessing assets in ETH at an unprecedented pace.
Aguilatrades, a prominent merchant known for aggressive strategies, recently closed a long position of BTC and moved to Ethereum using an leverage of 25x. The merchant now has 17,500 ETH, valued at more than $ 65 million. Despite facing a substantial liquidation of 720 eth worth $ 83.3 million on July 25, Ethereum’s appeal remains strong.
Between July 9 and July 25, the accumulation of ETH whales reached amazing levels:
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Three new wallets bought a combined ETH of 74,207, for an approximate value of $ 273 million
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Eight wallets acquired 540,460 eth, for a total of almost $ 2 billion
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The analyst at the Ali MartÃnez chain reported an accumulated purchase of 1.13 million ETH, valued at $ 4.18 billion, for important wallets in just two weeks
These data indicate a change of mass confidence, since the big players begin to treat Ethereum not only as coverage, but as a new potential leader in the digital asset space.
Change tides in institutional feeling
Although unconditional ones such as Blackrock and Ark Invest continue to retain their Bitcoin holdings, many institutional analysts suggest that Ethereum can soon exceed Bitcoin in terms of growth and innovation appeal trajectory.
The voices of the industry such as Eric Trump have issued Ethereum pricing forecasts in bold, placing objectives about $ 8,000. Even more aggressively, the cryptographic pioneer Arthur Hayes, co-founder of Bitmex, Cree Ethereum could touch $ 10,000 in the next market cycle, driven by the expansion of decentralized finances (DEFI) and the next scalability deployments of Ethereum layer 2.
Galaxy’s digital transaction may have accelerated this change, involuntarily or otherwise.
The way ahead: can Bitcoin retain?
The Bitcoin community now faces a crucial moment. Historically, BTC has proven to be resistant through innumerable market corrections and whale movements. However, this instance feels different, mainly because the action originates in one of the most long data holders of the ecosystem.
This is not a typical day of daytime trade or short -term panic sale. It is a monumental transfer of an early adopter that can represent a broader segment of inherited Bitcoin holders that evaluate new directorates or retirement strategies.
The next few weeks will reveal if Bitcoin can stabilize above $ 100,000 and claim an upward impulse. Otherwise, the pressure of Ethereum and other emerging contenders could finally erode the Bitcoin domain in the cryptographic market.
Conclusion
The liquidation of $ 9 billion orchestrated by Galaxy Digital marks a historical moment for the cryptocurrency market. As Ethereum absorbs the impulse of investors and the great money revolves its approach, Bitcoin’s future depends on its ability to quickly recover from this shock activated by whales.
If this event represents the beginning of a new era in the cryptographic hierarchy or simply a temporary rebalancing of power, one thing is safe: the panorama of digital assets is quickly evolving, and players at the top are now being tested more than ever.
Writer
@Ellena
Ellena is an experienced cryptographic writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides information about the latest trends and innovations in the currency space.
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