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- Bitcoin Hits Turbulence: $115K Liquidity Grab, Whale Bets Big, and Institutions Shift the Game
Bitcoin Hits Turbulence: $115K Liquidity Grab, Whale Bets Big, and Institutions Shift the Game
Bitcoin's price action shows turbulence around $115K as massive whale trades, institutional shifts, and macro pressures reshape the market narrative. Despite dips, bullish conviction remains.
What we will talk about today...
Whale Bets $23.7M on Bitcoin Hitting $200K
Galaxy Digital Dumps $500M in BTC, RSI Hits Record Lows
Ki Young Ju Declares Bitcoin Cycle Theory Dead
Why Bitcoin Dropped to $115K: Four Key Drivers

A high-stakes options play signals confidence in Bitcoin’s upside—even amid sharp liquidations.
1) Treasury plays are the game.
BTC may have stalled as an OG wallet supply soaks demand, but $23.7m spent on an EoY Dec 140-200k Call spread x3500 signals continuation.
ETH active with ETF+treasury inflows, pushing recent Sep Fly and Call spreads ITM, Fast money Calls in play.
— Deribit Insights (@DeribitInsights)
5:21 PM • Jul 20, 2025
$23.7M bull call spread placed: A whale targets $140K–$200K BTC by year-end, showing conviction in a major rally.
$130M longs liquidated: BTC dropped below $115K, triggering a sharp cleanup of leveraged positions.
$115K becomes a key support: Holding above it is crucial to maintain the uptrend.
“Corrections at low risk levels = opportunity, not exit.”
Swissblock
“Call spreads bet on an imminent ATH break.”

Galaxy Digital Dumps $500M in BTC, RSI Hits Record Lows
Mass selling from OG whales crashes Bitcoin’s RSI, but signs of recovery are emerging.
$BTC
Furthermore this price decline has been led by market selling on spot exchangeshence why toxic flow is promoted in this environment
- the twap shorting into pricechange in this flow will come from two things
- absorption of market selling
- change from net short— Skew Δ (@52kskew)
6:08 AM • Jul 25, 2025
Galaxy Digital moves thousands of BTC: Triggered $500M in liquidations across the market.
RSI plunged to 6/100: A rare oversold signal now showing bullish divergence.
$117K upside target: Traders eye it as the next key level in BTC’s rebound.

CryptoQuant CEO admits market behavior has evolved—old retail-driven models no longer apply.
#Bitcoin cycle theory is dead.
My predictions were based on it—buy when whales accumulate, sell when retail joins. But that pattern no longer holds.
Last cycle, whales sold to retail. This time, old whales sell to new long-term whales. Institutional adoption is bigger than we
— Ki Young Ju (@ki_young_ju)
10:36 PM • Jul 24, 2025
Cycle theory collapses: Traditional model of whale accumulation and retail exit is now outdated.
Institutional accumulation leads: Long-term holders and ETFs now dominate the market.
Forecasting is harder: Bear markets could now be shaped by institutional panic, not retail.
“This cycle looks nothing like 2021. Quiet and smart money is currently on stage.”
CryptoQuant Analyst Burakkesmeci

Why Bitcoin Dropped to $115K: Four Key Drivers
BTC’s retreat is driven by profit-taking, ETF outflows, ETH rotation, and macro fears, not full-blown panic.
#BTC
It's only Week 3 in Price Discovery Uptrend 2
History suggests Bitcoin should be able to rally for another few weeks before a potential Price Discovery Correction 2
$BTC #Crypto#Bitcoin
— Rekt Capital (@rektcapital)
10:24 AM • Jul 24, 2025
Post-rally cooldown: Whales are rebalancing after BTC’s run to $123K, triggering $586M in long liquidations.
$285M ETF outflows: Recent institutional exits weigh on short-term sentiment.
Capital shifts to ETH and alts: Ethereum grabs attention as BTC dominance wanes.
Macro jitters: U.S. trade tensions and Fed uncertainty push investors toward caution.
“This looks like a necessary breather before the next leg up.”
Rekt Capital
“As long as BTC holds $119K weekly, the bull flag breakout remains in play.”
Rekt Capital

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results