Bitcoin stays impressively secure close to $118,000 even after a large over-the-counter sale of 80,000 BTC, price over $9 billion, hit the market. The transaction, executed by Galaxy Digital and tied to dormant Satoshi-era wallets from 2011, precipitated a quick 4% value drop final week.
Nevertheless, BTC shortly recovered, underscoring the power of institutional demand.
Based on K33 Analysis’s Vetle Lunde, institutional traders and Bitcoin-linked merchandise collectively amassed 115,165 BTC in July. Even after subtracting the whale’s sale, internet flows nonetheless present a surplus of 35,165 BTC. This robust absorption capability is maintaining Bitcoin afloat amid heavy promoting stress.
#Ethereum open curiosity dominance has climbed to almost 40%, its highest stage since April 2023. Solely 5% of days have seen the next studying. This marks a transparent shift in speculative focus, with capital rotating from $BTC to $ETH on the margin. pic.twitter.com/yNKLe9gJKt
— glassnode (@glassnode) July 29, 2025
In the meantime, technicals present a symmetrical triangle on a 4-hour timeframe. The sample is fashioned by decrease highs and better lows and often precedes a breakout. The resistance is at $120,283, and the trendline assist at $117,000 is being watched by merchants.
Derivatives Market Alerts Stress
Whereas spot is calm, Bitcoin derivatives are displaying rigidity. Open curiosity in BTC perpetual futures has gone above 300,000 BTC, ranges not seen since November 2024. Apparently, funding charges are impartial, so the leverage might be pushed by institutional hedging quite than pure hypothesis.
Lunde notes this might be OTC desks like Galaxy hedging their massive gross sales by brief futures positions. This retains funding charges in examine, however the excessive open curiosity might result in liquidation cascades if an enormous transfer triggers stop-outs on each side.
Key factors:
- BTC perpetual open curiosity above 300K BTC
- Funding charges are impartial, regardless of leverage
- Help at $117K, resistance at $120.3K
- Look ahead to quantity on a breakout
Ethereum Sees Rising Institutional Flows
Whereas Bitcoin holds, Ethereum is seeing clear institutional demand. Since mid-June, ETH ETFs have absorbed over 1.6 million ETH, greater than the overall of the earlier 11 months mixed. This momentum helped ETH achieve 52% over the previous month and pushed the ETHBTC ratio to 0.032, its highest studying since January.
#Ethereum open curiosity dominance has climbed to almost 40%, its highest stage since April 2023. Solely 5% of days have seen the next studying. This marks a transparent shift in speculative focus, with capital rotating from $BTC to $ETH on the margin. pic.twitter.com/yNKLe9gJKt
— glassnode (@glassnode) July 29, 2025
CME knowledge exhibits that non-leveraged institutional gamers added 527,000 ETH in July alone, signaling directional lengthy bets. Glassnode experiences that Ethereum’s perpetual open curiosity dominance has risen to almost 40%, a stage not often seen since early 2023. This shift hints at speculative rotation away from Bitcoin, at the very least quickly.
With U.S. macro catalysts looming, together with the FOMC price resolution, Trump’s tariff deadline on Aug. 1, and a possible White Home crypto report, merchants ought to count on sharp volatility throughout each BTC and ETH.
Bitcoin Technical Outlook: Symmetrical Triangle Forming
Technically, Bitcoin is inside a symmetrical triangle on the 4-hour chart, with value coiling between decrease highs and rising trendline assist. It is a setup for an enormous breakout. BTC is at present at $118,000, slightly below the 50-SMA at $118,204, which is now performing as resistance.
The RSI is at 48, impartial however rising, so momentum is constructing. Worth simply bounced off the ascending assist at $117,025 and is making greater lows, which is bullish accumulation. A number of small candles, together with Dojis and spinning tops, are displaying market indecision, which is widespread earlier than a breakout.
Key ranges to observe:
- Resistance: $120,283 (prime of triangle)
- Breakout targets: $122,845 and $125,408
- Help: $117,025 then $114,532 and $111,799
If BTC breaks above $120,283 with quantity and RSI power, we must always see momentum to $125K. A break under $117K might see assist at $111,799.
Bitcoin Hyper Presale Over $5.7M as Worth Rise Nears
Bitcoin Hyper ($HYPER), the primary Bitcoin-native Layer 2 powered by the Solana Digital Machine (SVM), has raised over $5.7 million in its public presale, with $5,700,020 out of a $6,102,789 goal. The token is priced at $0.01245, with the following value tier anticipated to be introduced quickly.
Designed to merge Bitcoin’s safety with Solana’s pace, Bitcoin Hyper permits quick, low-cost sensible contracts, dApps, and meme coin creation, all with seamless BTC bridging. The mission is audited by Seek the advice of and engineered for scalability, belief, and ease.
The golden cross of meme enchantment and actual utility has made Bitcoin Hyper a Layer 2 contender to observe in 2025. With staking, a streamlined presale, and a full rollout anticipated by Q1, $HYPER is gaining critical traction.
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