Galaxy Digital’s $9B Bitcoin Mega-Sale Propels BTC to $117K—Bull Run Unstoppable
Wall Street meets crypto chaos as Galaxy Digital dumps $9B in BTC—and the market just shrugs. Bitcoin surges to $117K, defying gravity (and traditional finance logic).
When whales sell, retail usually bleeds. Not this time. The king of crypto eats the dip like it’s a bullish appetizer.
Meanwhile, suits in pinstripes still can’t decide if Bitcoin’s a ‘hedge’ or a ‘risk asset.’ Spoiler: It’s both—and it’s leaving gold in the dust.
One cynical take? The same institutions that called Bitcoin a scam in 2020 are now front-running your grandma’s FOMO. Welcome to late-stage capitalism, folks.
Bitcoin Holds Above $117K Amid Technical Strength
Bitcoin traded around $117,308, slipping 1.13% but holding firm within a key support zone. The 24-hour trading volume surged over 42%, indicating heightened market activity
Source: Tradingview
Despite the slight decline, momentum indicators suggest ongoing bullish sentiment across the market. The RSI currently sits at 58, signaling strength but leaving room for further upside. Previously, the RSI crossed 70, indicating recent strong demand, though some cooling has since occurred.
The MACD remains in positive territory, and the MACD line continues to lead above the signal line. The histogram, however, shows slight weakening, suggesting some consolidation or hesitation among market participants. Even so, this doesn’t imply reversal, as both indicators still reflect upward bias in the broader trend.
On-Chain Data Highlights Strong Accumulation Zones
Analysts Ali charts identified $116,095 a critical support level, with resistance at $118,955 based on on-chain cost distribution. These zones are supported by significant volume activity, indicating substantial buying and selling interest NEAR current price levels.
Data from Glassnode’s heatmap illustrates strong accumulation around current bitcoin levels. Over 8,800 BTC were acquired below spot price, while more than 48,000 BTC changed hands above it. This positioning forms a tight channel of demand and supply that continues to shape market movements.
The most important levels to watch for Bitcoin $BTC right now are $116,095 as support and $118,955 as resistance, based on cost basis distribution. pic.twitter.com/MxrN24BsqN
— Ali (@ali_charts) July 25, 2025
The supply concentration near $118,955 creates significant overhead pressure, which could limit short-term breakouts. Conversely, $116,095 offers solid structural support based on historical purchase behavior at that price range. These levels present a tightly defined trading range that market participants now monitor with increased attention.
Market behavior in this range reflects confidence in long-term stability, especially following a sale of such unprecedented magnitude. Bitcoin’s ability to absorb this transaction without significant volatility strengthens the case for its maturity as a financial asset. Meanwhile, Galaxy’s role in managing the deal reinforces institutional capabilities in handling legacy crypto wealth.
