Bitcoin lives at an accurate moment in the market as it approaches its lowest levels of price after a sharp movement that fell at the price and washed away the levels of local liquidity.
These moves are often explained as an attempt to attract liquidity, and may either a bullish reflection or a deeper collapse in the descending direction.
The level of support under threat with intense sale pressure
According to the well -known digital currency analyst “Daan Crypto Trades”, Bitcoin is now testing the bottom of its price range, after it was withdrawn liquidity from nearby areas, and this phenomenon is sometimes a sign of a near -reversal, but it may also be an actual refraction of the price if it does not succeed in restoring the momentum.
At the heart of these moves, a big name like Galaxy Digital, which has converted more than $ 2 billion from Bitcoin to trading platforms, stands at a move that analysts considered a direct reason for increasing selling pressure.
The moves seem part of a huge portfolio believed to contain about 80,000 Bitcoin, gradually distributed over the past weeks, which led to a great slowdown in the momentum of the market.
And if the price fails to cohesion at its current range, the next possible testing level is $ 113,500, which is what some see as an attraction for buyers interested in purchasing at support areas.
Are we witnessing a deeper correction wave due to Galaxy Digital?
Analyst “ether Wizz” indicated that the Galaxy Digital today sold 12,850 bitcoins, with a total value of $ 1.5 billion, and this pressure broke the price of Bitcoin to a barrier of $ 115,000, and it seems that the market is now trying to hold together after this rapid decline.
Interestingly, the last time Galaxy Digital sold Bitcoin in huge quantities, after which a strong wave of climbing was launched, and this historical phenomenon pushes some followers to optimism that something similar to happening can be done again.
But the warnings are still standing, and the “Vishal Techzone” analyst said that the Galaxy Digital has transferred nearly 30,000 Bitcoin recently, equivalent to $ 3.5 billion, and was sent directly to trading platforms, which strengthened the concerns of the largest upcoming correction in the market.
Signs of strategic moves, not just a random sale
After these huge deals, the Galaxy Digital withdrawal of $ 1.15 billion of USDT, indicates that what is taking place is not just random trading, but may be part of a greater strategic plan to restore preparation for a new stage in the market.
There is no doubt that Bitcoin is now going through a sensitive moment, where liquidity and external pressures play a fundamental role in determining the next direction, and investors must be careful and pay attention to what the next few days may bear.
