Currently, Bitcoin is showing a notable decline in activity, remaining within a narrow range. This situation raises concerns among crypto investors.
Galaxy Digital and the Bitcoin Transfer
Galaxy Digital has transferred over 80,000 BTC to exchanges in recent weeks, creating pressure on the market. On July 26, 12,850 BTC worth about $1.5 billion were sold. This deepens the existing instability in the market.
Current Situation in the Cryptocurrency Market
Bitcoin is stuck in a narrow range, and the support level at $113,500 has become a psychological barrier for investors. Alongside this, analysts advise caution, as a break of this level may be possible.
Impact of Large Sales on the Market
Recent sales could lead to changes in the behavior of altcoin markets. In the past, significant sales from Galaxy Digital preceded gains in the altcoin market, a scenario some investors hope to see repeated.
The current situation requires careful monitoring, as volatility may return to the cryptocurrency market. Investors continue to pay attention to the long-term outlook.
