Bitcoin Price Prediction: OG Whale Dumps 80,000 BTC – And Bitcoin Still Looks Ready to Blast Higher

Key Points

1. Bitcoin stayed stable around $118,000 after a massive 80,000 BTC ($9B) sale by Galaxy Digital, linked to dormant Satoshi-era wallets, with only a brief 4% price drop.

2. Net BTC flows show a surplus of 35,165 BTC in July, indicating strong institutional demand despite heavy selling pressure.

3. Ethereum's open interest dominance reached nearly 40%, its highest since April 2023, with ETFs absorbing over 1.6M ETH in June alone.

4. BTC's technical analysis shows a symmetrical triangle formation, with resistance at $120,283 and support at $117,000, suggesting a potential breakout.

5. Bitcoin Hyper ($HYPER), a Bitcoin-native Layer 2 project, raised over $5.7M in its presale, aiming to merge Bitcoin's security with Solana's speed.