- Bitcoin climbs back above $118,900 after Galaxy Digital finalizes 80,000 BTC transaction.
- The sale caused $646 million in market-wide liquidations, including $152 million in BTC longs.
The Bitcoin price surged above $117,000 after Galaxy Digital confirmed the completion of a massive 80,000 BTC sale conducted on behalf of a long-term investor from the Satoshi era. The crypto had earlier dropped to an intraday low of $114,759 due to intensified selling pressure.
Galaxy Digital Executes Historic Bitcoin Sale for Early Holder
Bitcoin has rebounded sharply from its earlier dip and is now trading above $118,000. Galaxy Digital issued a press release describing the transaction as one of the largest nominal Bitcoin trades in crypto history. The 80,000 BTC involved were worth approximately $9 billion based on current market prices.
The firm specified that the sale was executed for a Satoshi-era investor and formed part of their estate planning strategy. This liquidation marks one of the most substantial exits by an early Bitcoin adopter, raising questions among market participants and analysts.
The sale triggered a short-term sell-off across crypto markets, resulting in total liquidations of around $646 million, including $152 million in Bitcoin long positions. Bitcoin’s drop to below $115,000 earlier in the day reflected the sheer size and influence of the transaction.
Analysts Eye Key Price Levels Amid Uncertainty
Market analysts remain divided on the future direction of Bitcoin’s price. Ali Martinez pointed to $116,095 as a key support level and $118,955 as the next major resistance zone, based on cost basis distribution data.
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
Crypto strategist Titan of Crypto suggested that Bitcoin may revisit the $112,000 region, citing a possible retest of an inverse Head-and-Shoulders neckline before any potential upward continuation.
#Bitcoin Weekly Structure
Retest of the inverse Head & Shoulders neckline before potential continuation? 🎯🚀 pic.twitter.com/1shF8axDxw
— Titan of Crypto (@Washigorira) July 25, 2025
Meanwhile, Eric Balchunas a Bloomberg ETF analyst, questioned the rationale behind selling such a large amount of Bitcoin in one go, speculating that a phased approach might have been more appropriate, particularly for someone assumed to be a long-term believer in the asset.
Is this 80k sale real? Saw a few things on it, altho not fat fingered. If real, why would someone sell $10b at once? Seems more logical to sell a little, esp if you a OG believe type. What am i missing
— Eric Balchunas (@EricBalchunas) July 25, 2025
Despite short-term volatility, macroeconomic factors could play a pivotal role in Bitcoin’s next move. A potential trade agreement between the United States and the European Union this weekend may support continued bullish momentum.
Financial institutions remain optimistic in their longer-term outlook. In its latest report, Citigroup reiterated its bull-case scenario, projecting that Bitcoin could reach up to $199,000 by the end of the year.
