July 26th Bitcoin Market Analysis

The Bitcoin market experienced a whale sell-off yesterday: holders from the Satoshi era sold 80,000 BTC (worth over 9 billion USD) in a single day through Galaxy Digital, causing the price to briefly drop to 114,600 USD. However, the market quickly recovered above 117,000 USD, mainly due to favorable macro conditions:

1) Trump and Powell reached a rare policy consensus;

2) Progress in tariff negotiations between the US and Europe.

On-chain data shows that the panic selling pressure mainly came from holders in the 100,000-110,000 USD cost range, while the key gap at 114,000 USD has been filled, and the 112,000 USD gap still awaits repair. Weekend liquidity tests may become a new focus.

Operational Suggestions:

Intraday support level: 115500-116000 Long

Intraday resistance level: 119000-119500 Short

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