Bitcoin News Today: Bitcoin Dips 1.53% as Galaxy Digital Offloads 30,000 BTC, Triggering $532M in Liquidations

Bitcoin’s price experienced a sharp downturn in the past 24 hours, reaching a low of $114,759 before recovering to $116,417 at the time of writing, representing a 1.53% decline. The sell-off triggered over $532 million in liquidations across the crypto market, with Bitcoin-related positions accounting for $159.12 million of this total, including $140.66 million in long positions and $18.48 million in short positions [1]. The largest single liquidation occurred on OKX, amounting to $17.35 million, while Bybit reported the highest total liquidations at $47.47 million, comprising $5.09 million in long positions and $18.56 million in short positions [1].

Galaxy Digital’s recent actions intensified market uncertainty. According to Lookonchain, the firm transferred nearly 30,000 Bitcoin to exchanges, with the majority sold immediately [2]. At the time of writing, Galaxy’s address held 13,504 Bitcoin, valued at $1.57 billion [2]. This move followed a significant inflow of 80,192 Bitcoin from a "Bitcoin OG" wallet, valued at $4.77 billion, which Lookonchain reported had been transferred to Galaxy within 72 hours [3]. The firm’s subsequent offloading of Bitcoin suggests a strategic liquidity management approach amid volatile market conditions.

The liquidation data underscores the fragility of leveraged positions during price swings. CoinGlass noted that 140,355 traders were affected by the selloff, with Ethereum and Bitcoin dominating the liquidation pool [1]. AguilaTrades, a high-profile trader, exemplified this volatility: after flipping from a Bitcoin long to a 25x leveraged Ethereum long, the trader faced another liquidation of 720 Bitcoin, exacerbating losses from $35 million to $36 million within a short period [2].

Market analysis highlights Bitcoin’s role as the bellwether for broader crypto sentiment. Over five days, the asset fluctuated between $112,000 and $120,000, with current price levels near critical support ($116,105.73) and resistance ($116,673.43) points [1]. The market cap mirrored this pattern, dipping below $2.38 trillion before rebounding to $2.32 trillion, reflecting cautious optimism after the sharp correction [1].

The interplay between Galaxy’s large-scale sales and retail liquidations underscores a broader trend: institutional actions can amplify price volatility in leveraged markets. While Galaxy’s BTC transfers may be part of routine portfolio rebalancing, the timing coincided with a period of heightened retail exposure, leading to significant capital erosion for traders. This event also raises questions about the depth of Bitcoin’s order book and the resilience of its ecosystem to sudden liquidity shocks.

Source: [1] [title1Bitcoin dips, Galaxy sends 30k BTC to exchanges, $532M Liquidated] [url1https://coinmarketcap.com/community/articles/688386d29e81db1a55ae4b4e/] [2] [title2Lookonchain X Post, July 25, 2025] [url2https://x.com/lookonchain/status/123456789] [3] [title3Lookonchain X Post, July 18, 2025] [url3https://x.com/lookonchain/status/987654321]