Bitcoin Holders May Reduce Exposure Near $120K as Galaxy Digital Sells 80,000 BTC
Main Idea
Bitcoin holders are reducing their exposure as prices approach the $120,000 resistance level, with Galaxy Digital's sale of 80,000 BTC highlighting significant institutional activity.
Key Points
1. Long-term Bitcoin holders (LTHs) are turning net negative at the $120,000 resistance level, signaling profit-taking behavior.
2. Galaxy Digital's sale of 80,000 BTC represents a major institutional move, far exceeding typical retail volumes.
3. Institutional profit-taking at key resistance levels like $120K can influence market momentum and investor confidence.
4. If other major holders follow Galaxy Digital's lead, the market could face increased selling pressure; otherwise, Bitcoin may maintain upward momentum.
5. Traders should monitor whether the $120K resistance holds or breaks, as well as institutional behavior, to anticipate near-term price movements.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin holders are
Latest News
- Tron (TRX) Large Transaction Volume Surges 526%, Suggesting Possible Increased Whale Activity2025-07-30 12:06:08
- Bitcoin May Face Correction Toward $110,000 Amid Low-Volume Gap and Short-Term Holder Accumulation2025-07-30 11:48:14
- Bitcoin Faces Critical Resistance Near $120,000 Amid Potential Short Squeeze and Market Uncertainty2025-07-30 11:47:47
- DOJ Indicates Dragonfly Ventures May Not Be Targeted in Tornado Cash Investigation2025-07-30 11:47:26
- Solana Retail Longs Surge Near Key Resistance Amid Mixed Price Momentum and Market Positioning2025-07-30 11:47:06