Bitcoin News Today: Bitcoin Rises 1% as $450M Galaxy Digital BTC Sale Fails to Move Price

Bitcoin’s price demonstrated resilience on Tuesday as the cryptocurrency edged back toward $119,000, seemingly unfazed by the movement of 3,782 BTC—valued at approximately $450 million—from Galaxy Digital’s wallet to exchanges [1]. The transaction, noted by crypto analytics platforms such as Lookonchain, marked a smaller-scale distribution compared to the firm’s prior sale of 80,000 BTC last week, which had briefly driven prices below $114,500. Despite the latest outflow, market participants observed no sustained downward pressure, with Bitcoin stabilizing near key resistance levels [2].

The relative strength in BTC/USD pairs, up nearly 1% according to Cointelegraph Markets Pro and TradingView data, contrasted with earlier volatility. A dip to $117,000 during U.S. trading hours failed to trigger a prolonged bearish trend, as buyers reasserted control. Analysts attributed this resilience to a growing desensitization to large sell-offs, a pattern observed in previous months where macroeconomic factors like U.S. trade tariffs also showed diminishing market impact [3].

The absence of a significant price reaction to Galaxy Digital’s activity highlighted broader shifts in market dynamics. While the 80,000 BTC sale last week had caused measurable turbulence, the latest move appeared to align with a broader narrative of price normalization. “Is GalaxyDigital helping clients sell BTC again?” Lookonchain asked in a social media post, emphasizing that most of the 3,782 BTC had been directed to exchanges [4]. However, the transaction’s muted effect underscored a potential maturation in Bitcoin’s market structure, where large institutional actions no longer dictate immediate price direction.

Trading sentiment remained cautiously optimistic, with some analysts flagging structural indicators. Daan Crypto Trades noted the closure of a CME Bitcoin futures gap at $117,000, a recurring pattern over recent weeks that suggested a “self-fulfilling prophecy” in market behavior. Meanwhile, Material Indicators pointed to the 21-day simple moving average ($117,480) as a critical threshold, warning of potential volatility ahead of the monthly close [5]. If the support level fails, a “flash sale” scenario—where prices dip sharply before rebounding—could materialize.

Longer-term concerns persisted, however. Popular trader Roman highlighted bearish divergences in technical indicators, suggesting a possible pullback to $108,000. “We’re likely to see a $108,000 pullback, or consolidation between $115,000 and here,” Roman stated, framing both outcomes as probable. These forecasts contrasted with the immediate market’s resilience, illustrating the tension between short-term stability and underlying macroeconomic uncertainties [6].

The broader implications for Bitcoin’s price trajectory remain contingent on several factors. The repeated lack of market reaction to Galaxy Digital’s sales signals a shift in institutional influence, while technical indicators and analyst commentary point to potential near-term volatility. For now, the cryptocurrency’s ability to absorb large-scale outflows without significant price shifts underscores its growing institutional depth and evolving market psychology.

Source:

[1] Cointelegraph, https://cointelegraph.com/news/bitcoin-price-shrugs-off-potential-new-450m-galaxy-digital-btc-sale?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

[2] Lookonchain/X, https://cointelegraph.com/news/bitcoin-price-shrugs-off-potential-new-450m-galaxy-digital-btc-sale?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

[3] Cointelegraph, https://cointelegraph.com/news/bitcoin-price-shrugs-off-potential-new-450m-galaxy-digital-btc-sale?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

[4] Lookonchain/X, https://cointelegraph.com/news/bitcoin-price-shrugs-off-potential-new-450m-galaxy-digital-btc-sale?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

[5] Cointelegraph/TradingView, https://cointelegraph.com/news/bitcoin-price-shrugs-off-potential-new-450m-galaxy-digital-btc-sale?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

[6] X (formerly Twitter) posts by Daan Crypto Trades and Roman, https://cointelegraph.com/news/bitcoin-price-shrugs-off-potential-new-450m-galaxy-digital-btc-sale?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound