Bitcoin (BTC) continued declining during the ongoing session, extending its losses for a fourth day as selling pressure thanks to Galaxy Digital’s mammoth Bitcoin transaction pushed prices lower. The flagship cryptocurrency fell to a low of $114,770 on Friday as bearish sentiment peaked. However, it rebounded to reclaim $117,000, and currently trades around $117,307. Satoshi-Era Investor Cashes Out Via Galaxy Digital An early Bitcoin (BTC) investor has cashed out 80,000 BTC worth $9 billion at current prices through Galaxy Digital, completing what is being described as one of the largest notional transactions in crypto history. However, the details regarding the transaction have not been disclosed. The sale disclosure appeared in an announcement late on Friday, followed by a post on Galaxy Digital’s official blog. Galaxy Digital has not revealed the client’s identity, but stated that it was “part of the investor’s broader real estate planning strategy.” The announcement came after a day of heightened volatility for Bitcoin , with the asset’s price briefly dropping below $115,000 on Friday. Lookonchain data revealed several large transactions from Galaxy Digital throughout Friday, with most of the funds sent directly to exchanges. All the transactions were tied to the investor who moved over 80,000 BTC from a wallet that was dormant for 14 years. BTC rebounded after Friday’s drop below $115,000, with analysts noting that the market has already absorbed the entire sale. Joe Consorti, Head of Growth at Theya, stated, “80,000 BTC , over $9 billion, was sold into open market order books, and bitcoin barely moved.” Bitcoin (BTC) Could Reach $135,000 By Year-End Citigroup has predicted that Bitcoin (BTC) could reach $135,000 by the end of the year in its best-case scenario. According to Citigroup analysts, strong demand from spot Bitcoin ETFs, favorable macroeconomic trends, and growing user adoption could fuel the flagship cryptocurrency’s rally. Bitcoin is trading between $115,000 and $120,000 over the past week, showing resilience despite mixed economic data. The prediction has sparked optimism among investors and highlights Wall Street’s growing confidence in the leading cryptocurrency. Bitcoin (BTC) Price Analysis Bitcoin (BTC) has recovered from Friday’s low as it reclaimed $117,000 and moved to $117,565. Despite the recovery, it remains in the red during the ongoing session, with the price marginally down. However, the flagship cryptocurrency has recovered over the past 24 hours, up nearly 2%. Analysts believe the price will pull back towards the $115,000 mark if current market trends continue, marking a 6% decline from recent all-time highs. However, they pointed out that the correction remains well within the normal volatility range observed in previous bull phases. This indicates the decline is part of a healthy market reset rather than a deeper correction. BTC registered a sharp drop last Tuesday (July 15), dropping to a low of $115,701 before settling at $117,682. It recovered on Wednesday, rising almost 1% to reclaim $118,000 and settle at $118,641. The price faced volatility on Thursday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price registered a marginal increase and settled at $119,101. Despite the positive sentiment, BTC lost momentum on Friday, dropping 1.03% to $117,877. Sellers retained control over the weekend, with the price dropping marginally on Saturday and 0.48% on Sunday to settle at $117,240. Source: TradingView BTC recovered on Monday and reached an intraday high of $119,603. However, it lost momentum after reaching this level and settled at $117,397, ultimately registering a marginal increase. Bullish sentiment intensified on Tuesday as BTC rallied, rising over 2% and settling at $119,980. Selling pressure returned on Wednesday as the price fell 0.99% to an intraday low of $117,303 before settling at $118,794. Sellers retained control on Thursday as BTC fell 0.35% and settled at $118,381. BTC plunged to an intraday low of $114,770 on Friday. However, it rebounded from this level to reclaim $117,000 and settle at $117,565, ultimately registering a drop of 0.69%. The current session sees BTC marginally down, trading around $117,330. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
