Bitcoin Defies Gravity: OG Whale Unloads 80,000 BTC – And It’s Still Primed for Liftoff
Bitcoin just shrugged off a seismic sell-off—and the charts scream bullish.
When a single entity dumped 80,000 BTC (worth roughly $4.8 billion at current prices), the market barely flinched. That’s the kind of resilience that makes Wall Street’s ‘smart money’ clutch their pearls.
Why the optimism? Three reasons:
1. Absorption power: The market swallowed the sell order like a blue-chip stock—no panic, no cascade.
2. On-chain momentum: Whale wallets are refilling faster than a degenerate gambler’s crypto futures account.
3. Technical breakout: BTC’s holding key support levels like a gymnast sticking the landing.
Meanwhile, traditional finance bros are still arguing about ‘intrinsic value’ while Bitcoin’s network settles $30B daily. Stay poor, guys.
Derivatives Market Signals Tension
While spot is calm, bitcoin derivatives are showing tension. Open interest in BTC perpetual futures has gone above 300,000 BTC, levels not seen since November 2024. Interestingly, funding rates are neutral, so the leverage is probably driven by institutional hedging rather than pure speculation.
Lunde notes this could be OTC desks like Galaxy hedging their large sales through short futures positions. This keeps funding rates in check, but the high open interest could lead to liquidation cascades if a big MOVE triggers stop-outs on both sides.
- BTC perpetual open interest above 300K BTC
- Funding rates are neutral, despite leverage
- Support at $117K, resistance at $120.3K
- Watch for volume on a breakout
Ethereum Sees Growing Institutional Flows
While Bitcoin holds, ethereum is seeing clear institutional demand. Since mid-June, ETH ETFs have absorbed over 1.6 million ETH, more than the total of the previous 11 months combined. This momentum helped ETH gain 52% over the past month and pushed the ETHBTC ratio to 0.032, its highest reading since January.
#Ethereum open interest dominance has climbed to nearly 40%, its highest level since April 2023. Only 5% of days have seen a higher reading. This marks a clear shift in speculative focus, with capital rotating from $BTC to $ETH at the margin. pic.twitter.com/yNKLe9gJKt
— glassnode (@glassnode) July 29, 2025CME data shows that non-leveraged institutional players added 527,000 ETH in July alone, signaling directional long bets. Glassnode reports that Ethereum’s perpetual open interest dominance has risen to nearly 40%, a level rarely seen since early 2023. This shift hints at speculative rotation away from Bitcoin, at least temporarily.
With U.S. macro catalysts looming, including the FOMC rate decision, Trump’s tariff deadline on Aug. 1, and a potential White House crypto report, traders should expect sharp volatility across both BTC and ETH.
Bitcoin Technical Outlook: Symmetrical Triangle Forming
Technically, Bitcoin is inside a symmetrical triangle on the 4-hour chart, with price coiling between lower highs and rising trendline support. This is a setup for a big breakout. BTC is currently at $118,000, just below the 50-SMA at $118,204, which is now acting as resistance.
The RSI is at 48, neutral but rising, so momentum is building. Price just bounced off the ascending support at $117,025 and is making higher lows, which is bullish accumulation. Several small candles, including Dojis and spinning tops, are showing market indecision, which is common before a breakout.
- Resistance: $120,283 (top of triangle)
- Breakout targets: $122,845 and $125,408
- Support: $117,025 then $114,532 and $111,799
If BTC breaks above $120,283 with volume and RSI strength, we should see momentum to $125K. A break below $117K could see support at $111,799.
Bitcoin Hyper Presale Over $5.7M as Price Rise Nears
Bitcoin Hyper ($HYPER), the first Bitcoin-native Layer 2 powered by the Solana VIRTUAL Machine (SVM), has raised over $5.7 million in its public presale, with $5,700,020 out of a $6,102,789 target. The token is priced at $0.01245, with the next price tier expected to be announced soon.
Designed to merge Bitcoin’s security with Solana’s speed, Bitcoin Hyper enables fast, low-cost smart contracts, dApps, and meme coin creation, all with seamless BTC bridging. The project is audited by Consult and engineered for scalability, trust, and simplicity.
The golden cross of meme appeal and real utility has made Bitcoin Hyper a LAYER 2 contender to watch in 2025. With staking, a streamlined presale, and a full rollout expected by Q1, $HYPER is gaining serious traction.
