🚨 Bitcoin Dips as Galaxy Digital Rebalances Toward Ethereum

🔻 After a strong bullish run, Bitcoin (BTC) has dropped over 3%, triggered by a major sell-off from Galaxy Digital. The move not only sent ripples through the crypto market but also highlighted a shifting institutional narrative.

📊 Technical Breakdown:

• $BTC dipped below its 7-day SMA ($118,257)

• Broke the 23.6% Fibonacci level ($118,859)

• MACD turned sharply negative

• RSI still above oversold — more downside possible

• Watching key support at $116,241 and $115,000

🌐 Galaxy Digital is pivoting toward Ethereum-based systems, signaling a broader trend in institutional portfolio rebalancing. On CNBC, CEO Mike Novogratz emphasized:

🗣 “Ethereum’s tightening supply and surging institutional inflows give it the edge in long-term upside.”

📊 While Bitcoin remains the “digital gold” and a defensive asset, Ethereum is emerging as the growth engine in today’s evolving crypto economy.

📢 This isn’t just a market correction — it could be a reallocation of belief.

#Bitcoin #Ethereum #CryptoMarkets #GalaxyDigital #DigitalAssets

https://coingape.com/why-is-bitcoin-price-down-today-3/?utm_source=bnb&utm_medium=coingape