Bitcoin Faces Selling Pressure as Galaxy Digital Sells 1,167 BTC

Bitcoin (BTC) is currently experiencing significant volatility, having lost the $110,000 support level last Friday. This decline raised concerns about a potential downturn following its recent rally.

Analysts are divided on market sentiment; some view the situation as healthy consolidation, while others warn of a deeper correction.
Galaxy Digital sold 1,167 BTC recently, adding pressure to the market and suggesting institutional profit-taking.
Ethereum (ETH) is stabilizing around key demand levels, which may impact altcoin support but Bitcoin remains crucial for overall market sentiment.
A strong weekly close above $110,000 could restore confidence, whereas continued selling could lead BTC toward the next support level at $100,000.

Currently, BTC is trading around $108,764, struggling to regain momentum with resistance forming near $111,673. The 50-day moving average has become a bearish signal, while the 200-day moving average at approximately $101,207 is critical; losing it may trigger further declines.

The next few days will be pivotal in determining whether bulls can reclaim control or if the market enters a sharper correction.