Bitcoin price shrugs off potential new $450M Galaxy Digital BTC sale

Key Points

1. Bitcoin's price stayed around $119,000, showing little reaction to Galaxy Digital moving 3,782 BTC, mostly to exchanges.

2. Last week, Bitcoin dipped to $114,500 after Galaxy Digital facilitated an 80,000 BTC sale, but the market quickly absorbed the supply.

3. Analysts noted the closure of a CME Group Bitcoin futures gap at $117,000, suggesting a recurring pattern in recent weeks.

4. Traders are monitoring the 21-day simple moving average (SMA) at $117,480, with some predicting potential volatility or a 'flash sale'.

5. Longer-term, traders are cautious, with predictions of a possible pullback to $108,000 or consolidation between $115,000 and current levels.