Bitcoin’s price action is causing fresh anxiety across the crypto market, as the leading asset hovers near the lower boundary of its established trading range. Following a sharp dip that swept local liquidity, traders are questioning whether BTC’s recent move is a liquidity grab or the start of a deeper breakdown.
Whale Dump: Galaxy Digital Sells Over $3.5 Billion in BTC
In a major shift, Galaxy Digital has reportedly transferred and sold nearly 30,000 BTC — worth $3.5 billion — directly to exchanges this week, shaking short-term market confidence. Earlier, the firm offloaded 12,850 BTC valued at $1.5 billion, triggering the dip below the $115,000 level, where BTC is now attempting to stabilize.
Large outflows of this scale are rarely impulsive. Galaxy Digital later withdrew $1.15 billion in USDT, a signal of coordinated capital reallocation.
Price Action Suggests a Liquidity Sweep—Or a Breakdown?
Analysts, including Daan Crypto Trades, suggest Bitcoin’s move below support levels may signal a setup for reversal, not a collapse. Still, with Galaxy’s massive BTC liquidation underway, momentum has stalled, and bulls are struggling to reclaim higher levels.
If the trend breaks downward, $113,500 emerges as the next key demand zone — an area where buyers may look to reenter.
Holding above $113,500 is critical. Losing this level opens the door to deeper short-term corrections.
Interestingly, historical data hints that large BTC dumps — such as Galaxy’s last major sell-off — preceded an altcoin rally. Traders are watching whether a similar pattern could emerge this time. While BTC stabilizes, altcoins may capitalize on renewed liquidity flows and reduced Bitcoin dominance.
Deeper Correction Possible if Sell Pressure Continues
Analyst Vishal Techzone warns of a deeper correction ahead, citing Galaxy’s aggressive movements as a major red flag. “Big players don’t move billions without a reason,” he posted on X, referencing the methodical pattern in Galaxy’s transactions.
For now, volatility remains muted but is expected to return sharply — either confirming the liquidity sweep theory or accelerating a broader risk-off move.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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