Bitcoin faced heavy selling pressure after the news that Galaxy Digital reportedly sold off 10,000 BTC worth $1.18 billion. They later added more pressure by sending another 2,850 BTC ($330 million) to exchanges just minutes before the market started to slide.
Over the last 24 hours, more than $731 million in crypto positions were liquidated, according to CoinGlass. Nearly 214,000 traders were caught in the move, many of them betting on further price increases.
Ethereum dropped 1.3% to $3,598 and saw $104 million in long positions wiped out. Dogecoin took an even bigger hit, falling 7% to $0.22 and losing $26 million in longs.
Despite the drop, crypto sentiment remains bullish. Bitcoin recently hit an all-time high of $123,100 on July 14. The Crypto Fear & Greed Index is still showing “Greed” with a score of 66.
(BTCUSDT)
Bitcoin is pulling back after rejecting near $122,000 and is now holding just above the $115,600 support level. If this level breaks, the next key support sits around $108,300. The overall trend remains bullish above that zone, but short-term momentum is weakening. A bounce from current levels could retest $119K–$120K, while a deeper correction might target $108K if selling accelerates.
But for now, traders are cautious. If BTC drops back to $119,500, around $3 billion in short positions could be at risk.
EXPLORE: The 12+ Hottest Crypto Presales to Buy Right Now
Bitcooin Latest News – BTC Price Drops But These Altcoins Are Showing Strength
While large caps dipped following the news of huge sell-offs, some altcoins surged. SYRUP by Maple Finance jumped 24.5% after being listed on Upbit, one of South Korea’s top exchanges, and is now up 33% on the day.
JUST IN: $SYRUP by @maplefinance is up 24.5% after being listed on Upbit. pic.twitter.com/oBnZ5m8kGn
— CoinGecko (@coingecko) July 25, 2025
Meanwhile, Graphite (GP) is up over 40% in the last 24 hours and nearly 4500% in one month, showing that not all crypto assets are following Bitcoin’s lead. Graphite Protocol is a creator-focused platform starting on Solana, aiming to simplify project launches across multiple blockchains like ETH and Polygon. It offers no-code tools, minting infrastructure, and on-chain utilities like casino games.
In general, the rest of the altcoins are recovering from the overnight dump with BONK already up 8% and ETH recovering a 3%.
BonkFun, BONK’s Launchpad, Hits New All-Time High in Market Share
- 50% is used to buy and burn BONK
- 4% goes to the Strategic BONK Reserves
- 4% funds the BonkRewards program
The post [LIVE] Bitcoin Crypto News: BTC Dumps $1.18B as Liquidations Hit $731M – But Altcoins Like SYRUP and Graphite Soar appeared first on 99Bitcoins.
