Bitcoin Hovers Around $119,000 Amid Market Jitters

Highlights

• Bitcoin has bounced back to $119,000, despite recent Galaxy Digital exchange transactions failing to shift market sentiment.

• Concerns about large “OG” BTC sales have eased, following last week’s massive 80,000 BTC movement.

• Some traders remain cautious, predicting a possible dip in BTC prices.

On Tuesday, Bitcoin (BTC) managed to climb back to $119,000, with the market seemingly unperturbed by the looming threat of a $450 million sell-off.

BTC Price Steady Despite Galaxy Digital’s Wallet Moves

Data from Cointelegraph Markets Pro and TradingView indicated a virtually 1% uptick in BTC/USD. Although there was a fast dip to $117,000 throughout the U.S. trading session the day gone by, it wasn’t enough to trigger a long-lasting decline, with bullish investors eyeing a major resistance area once more.

Interestingly, this strength continued at the same time as news broke of Galaxy Digital moving one other 3,782 BTC from its wallet, with the bulk reportedly sent to exchanges, in line with analytics firm Lookonchain.

“Is GalaxyDigital helping clients sell $BTC again?” Lookonchain speculated in a post on X, accompanied by data from crypto intelligence firm Arkham.

While this move was significantly smaller than last week’s 80,000 BTC sale Galaxy facilitated, it was notable for not visibly impacting the worth. In contrast, the market took successful to $114,500 last week because it absorbed BTC supply dormant for 14 years.

Such phenomena aren’t recent. Earlier in 2025, U.S. trade tariffs and related headlines similarly saw a waning influence available on the market.

Will Bitcoin Face Another “Flash Sale”?

As for the present market structure, opinions amongst traders and analysts are divided.

Trader Daan Crypto Trades highlighted that the $117,000 drop closed the newest weekend “gap” in CME Group’s Bitcoin futures.

“And yet again, there’s the CME gap close on Monday just like the previous 5 weeks. We’re building quite the streak at this point,” he remarked. “The longer this goes on, the more of a self-fulfilling prophecy it will become.”

According to trading resource Material Indicators, short-term momentum hinges on the 21-day easy moving average (SMA) at $117,480.

“Volatility is heating up ahead of the monthly close, and Trend Precognition suggests that Bitcoin isn’t likely to make a new high today,” it informed X followers on Tuesday. “Pending this support test at the 21-Day SMA, $BTC may have a flash sale.”

Still cautious a few longer-term trend shift, trader Roman identified bearish divergences across price indicators, suggesting a possible downside goal of $108,000.

“We might see a pullback to 108k OR we consolidate between here and 115k to sort them out,” he predicted, describing each scenarios as “likely.”

This article doesn’t contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their very own research when making a call.