Market Shaken by $3.5B BTC Dump

DAILY MARKET OVERVIEW

Whales Wake Up

👋 Hey, Crypto Enthusiasts! Just when things looked calm, the selling pressure slammed back in.

Yesterday's bounce? Short-lived. Within hours, the dump resumed... and now we know why.

🐋 Whale Watch: Galaxy Digital Unleashes BTC

Remember that dormant whale wallet that sent 80,000 BTC to Galaxy Digital?
Yeah... it wasn’t for safekeeping.

Galaxy has reportedly started offloading that stash - and the market felt it instantly.

• Roughly 30,000 BTC (~$3.5B) hit exchanges in a flurry of transfers today

• The timing lined up perfectly with the sharp market drop

• Unclear if the rest (~50K BTC) is still waiting to be sold, but traders believe they will

Until there's clarity, the market stays cautious. That kind of supply overhang makes traders nervous - and rightfully so.

🟢 ETF Inflows Hold the Line

Despite the whale dumping, institutional conviction isn’t wavering:

• Strategy is raising $2.4B to stack more BTC

• The Smarter Web Company added another 225 BTC (~$26M)

• Positive inflows for both BTC & ETH ETFs continue today

Even as prices wobble, the big players keep buying. That’s long-term strength in action.

🧪 Ethereum Holding Strong

ETH has shown surprising resilience during the dump. This kind of strength is exactly what you want to see from majors - it sets the tone for alts when sentiment flips.

For now: stay patient, don’t chase, and wait for the sell off to finish.

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SOCIAL SENTIMENT

Ethena: ETH’s Smartest Side Bet?

While majors chop, ENA is quietly making serious moves. Let’s break it down.

📈 What’s Ethena ($ENA)?

Ethena is gaining traction as a high-upside stablecoin bet, following the massive success of Circle’s public listing. Through a $360 million SPAC deal with TLGY (soon to be StablecoinX), Ethena is executing a bold treasury strategy designed to lock up 10% of $ENA's total supply and drive demand.

🔁 The MicroStrategy Flywheel

As $ENA rises, StablecoinX’s stock price goes up. That attracts more capital. More capital = more $ENA buying. You get the idea - bullish feedback loop.

📈 Two Ways to Play

• Buy $ENA directly (just listed on Korea’s Upbit - $1B+ volume on launch)

• Buy StablecoinX stock (Ticker: USDE) when it hits Nasdaq

🌏 Korea Loves It

The Upbit listing lit a fire under ENA, and Korea's appetite for stablecoin exposure is real. This could be the next narrative-fueled runner - just like Circle’s USDC boom.

ENA is the next logical move for investors who missed Circle. Backed by a strong treasury strategy, Korean demand, and an upcoming Nasdaq listing, it’s shaping up to be the next big potential stablecoin proxy trade.

NEWS OVERVIEW

The Latest Crypto Headlines 📰 

Windtree builds massive BNB treasury with $520M equity deals
Biotech firm turns crypto treasury player, earmarking nearly all new funding for BNB purchases while selecting Kraken for custody and OTC execution.

Galaxy Digital offloads billions in BTC from OG whale
Galaxy appears to have sold 30,000 bitcoin from a dormant whale stash, fueling a price dip as market reacts to the liquidation.

Smarter Web Company boosts bitcoin holdings to 1,825 BTC
UK firm adds another 225 BTC to its treasury, now holding over $200 million in bitcoin after pivoting from web design to crypto finance.

Strategy upsizes stock sale to fund more bitcoin buys
Strategy expands its preferred share offering to $2.47 billion, aiming to grow its already massive BTC treasury of over 600,000 coins.

YOUTUBE INFLUENCER SUMMARY

Summary From The Top Influencers 📷️ 

Coin Bureau – Ethereum Is Back! Why ETH Could Explode in 2025 (25.07.2025 Summary)

After months of underperformance, Ethereum is back in the spotlight. In his latest video, Guy from Coin Bureau breaks down the recent developments that have reignited investor interest and explains why ETH could have a strong run in 2025.

Major Network Upgrades

• The Pectra upgrade (May 2025) introduced key improvements like smart wallets and better validator tools.
  

• Two more upgrades are planned: Fusaka (targeted for November) and Glamsterdam (focused on gas efficiency).
  

• These upgrades aim to enhance scalability, user experience, and overall network performance.

Stronger Institutional Support

• The Ethereum Foundation improved transparency and changed how it manages funds, moving away from large ETH sell-offs.
  

• It now borrows from DeFi protocols instead of selling ETH directly.
  

• Spot ETH ETFs are gaining traction, and issuers are pushing for staking options.

Growing On-Chain Activity

• Ethereum remains the leader in DeFi and stablecoin issuance.
  

• Despite concerns over fragmented liquidity due to layer 2s, ETH is still in high demand as collateral and a trading pair.

With major upgrades, increasing institutional support, and rising DeFi activity, Ethereum looks poised for further growth. If spot ETH ETFs gain staking approval, it could provide the next major catalyst. While risks remain, Guy believes this rally may just be getting started.

Benjamin Cowen – Bitcoin Dominance (25.07.2025 Summary)

Benjamin Cowen revisits Bitcoin dominance and its role in navigating the crypto market. He emphasizes that while many expect an altcoin rally, the data and historical patterns suggest otherwise.

1. Bitcoin Dominance Is Still Rising

• Dominance has been trending upward since late 2021, especially when excluding stablecoins.
  

• It recently approached 66%, a key resistance level that has historically led to pullbacks.

2. False Alt Season Hopes

• Every time Bitcoin dominance stalls, many call for "alt season."
  

• So far, these calls have been premature. Liquidity tends to return to Bitcoin after brief pauses.

3. Ethereum’s Relative Strength

• Cowen believes Ethereum has likely bottomed against Bitcoin for this cycle.

• Even if alts rally short-term, they’re still losing value against ETH.

4. Outlook for Altcoins

• Altcoin/BTC pairs haven’t yet reached their range lows.

• Cowen expects another drop in altcoin value by late October, repeating patterns from past years.

• Short rallies are possible, but long-term, most altcoins are underperforming both BTC and ETH.

5. What Could Happen Next

• Bitcoin dominance may briefly pull back but likely has another push higher.

• Whether it sets a new high depends on Ethereum’s next move.

• If ETH consolidates or dips, altcoins could bleed further.

Conclusion
Cowen maintains a cautious view on altcoins and sees Ethereum as the stronger option for now. Bitcoin dominance could climb further, especially if the macro environment stays uncertain and altcoins continue to underperform.

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