Bitcoin faced intense selling pressure as Galaxy Digital sold 10,000 BTC, valued at $1.18 billion, which intensified with an additional 2,850 BTC sent to exchanges. This led to over $731 million in crypto liquidations, impacting nearly 214,000 traders who had taken long positions.

Ethereum saw a decline of 1.3% to $3,598, with significant long liquidations estimated at $104 million. Dogecoin suffered a larger drop of 7%, falling to $0.22 and losing $26 million across long positions.

Despite these sharp declines, crypto market sentiment remains optimistic, with Bitcoin achieving a recent all-time high of $123,100 and a Fear & Greed Index showing ‘Greed’ at a score of 66.

Witnessing a pullback, Bitcoin is now positioned just above the critical support of $115,600. A break below this could see further declines, while resistance could arise if prices bounce back to around $119K-$120K.

Exploration of Altcoins: While major cryptocurrencies have dipped, some altcoins like SYRUP from Maple Finance rose by 24.5% after its listing on Upbit, and Graphite surged over 40% in 24 hours, indicating some assets are diverging from Bitcoin’s trend.

Quote: JUST IN: $SYRUP by @maplefinance is up 24.5% after being listed on Upbit. pic.twitter.com/oBnZ5m8kGn
— CoinGecko (@coingecko) July 25, 2025

Graphite Protocol, which aims to support creators on Solana, is gaining traction with tools for project launches across various blockchains. In the broader market, BONK gains 8% while ETH rebounded by 3%.