Bitcoin Rebounds After $900M Whale Sale, Ethereum ETF Inflows Soar

Key Event Summary:
On July 29, 2025, Bitcoin demonstrated resilience despite a massive over-the-counter sale of 80,000 BTC (worth $9 billion) conducted by Galaxy Digital. The market rebounded quickly due to strong institutional demand, reflected in net inflows of 35,165 BTC during the month. Simultaneously, Ethereum experienced explosive growth in speculative activity, with ETF inflows doubling in six weeks and perpetual open interest dominance nearing 40%. This trend indicates a significant rotation of interest from Bitcoin to Ethereum, driven by institutional positioning.

Task Assignments:

• Bitcoin Resilience
  @Max, this matter is related to Bitcoin-specific market trends and institutional activity, so I’m assigning it to you.
  @Victoria, given your expertise in macroeconomic trends and investment insights, you’ll oversee this analysis to ensure we address broader implications for investors.

• Ethereum Surge
  @Mark, this matter is related to altcoin price trends and speculative institutional behavior, so I’m assigning it to you.
  @Victoria, given the interconnected nature of altcoin performance with macro-level market shifts, I trust you to manage this piece as well.

Editor-in-chief,

Bitcoin Resilience

According to The Block on July 29, 2025, Bitcoin demonstrated remarkable resilience following a massive over-the-counter (OTC) sale of 80,000 BTC, worth $9 billion, by Galaxy Digital on behalf of a long-dormant "Satoshi-era" investor. This significant sale triggered only a brief 4% dip in Bitcoin's price, which quickly rebounded. The market's ability to absorb such a large sale is attributed to strong institutional demand. Throughout July, Bitcoin treasury companies and exchange-traded products (ETPs) saw a net inflow of 35,165 BTC, even after accounting for the 80,000 BTC sale. While the spot price has remained stable, there has been a notable increase in leverage in the derivatives market, with perpetual futures open interest climbing to levels not seen since late 2024. This suggests potential hedging activities by OTC desks but also elevates the risk of liquidation cascades.

Ethereum Surge

On the same day, The Block reported a significant surge in speculative and institutional interest in Ethereum. Net inflows into Ethereum ETFs have more than doubled in the past six weeks, with the addition of over 1.6 million ETH. This influx has contributed to a 52% monthly gain for Ethereum and pushed the ETH/BTC price ratio to its highest level since January. In July, Ethereum ETFs attracted $5.1 billion in inflows, compared to $5.7 billion for Bitcoin products, despite Ethereum's market cap being less than a fifth of Bitcoin's. Furthermore, data from the Chicago Mercantile Exchange (CME) shows a 527,000 ETH increase in open interest from non-leveraged institutional players in July, indicating a move towards directional long positions. This rotation of interest is further evidenced by Glassnode data showing Ethereum's perpetual open interest dominance nearing 40%, its highest point since April 2023.

@Max, focus the article on explaining the key events with clarity and purpose. Lead with Bitcoin's stability after the $9B OTC sale, emphasizing the swift rebound and strong institutional demand driving the market's resilience. Highlight the inflow data to underscore the scale and significance. For Ethereum, center on the sharp rise in ETF inflows and its performance relative to Bitcoin, connecting it to the broader institutional shift toward ETH. Avoid overloading with technical metrics—use them sparingly to support the narrative. The goal is to inform readers why these events matter, not overwhelm them with numbers. Keep it tight and impactful.

Bitcoin Rebounds After $9B Whale Sale, Ethereum ETF Inflows Soar

• Bitcoin demonstrates resilience, recovering swiftly after a $9 billion OTC sale due to robust institutional demand.
• Ethereum ETF inflows double, fueling a 52% monthly gain and highlighting surging investor appetite.

Bitcoin showcased remarkable resilience following a massive over-the-counter (OTC) sale executed by Galaxy Digital. On July 29, 2025, The Block reported that Galaxy Digital facilitated the sale of 80,000 BTC, worth approximately $9 billion, for a long-dormant "Satoshi-era" investor. Despite triggering a brief 4% price dip, Bitcoin’s value quickly recovered, buoyed by strong institutional participation.

The scale of the sale was counterbalanced by substantial market inflows, as treasury companies and exchange-traded products (ETPs) added a net 35,165 BTC to their holdings throughout July. This underscored institutional demand's pivotal role in stabilizing the market after such a large sell-off.

Meanwhile, the derivatives market observed heightened activity, with perpetual futures open interest reaching levels unseen since late 2024. The surge in open interest reflects increased hedging by OTC desks, though it also raises concerns about potential liquidation risks. Participants in the market appear to be managing these risks while maintaining strategic investment positions.

At the same time, Ethereum saw a sharp rise in both speculative and institutional activity. Inflows into Ethereum ETFs more than doubled in the last six weeks, adding over 1.6 million ETH, according to The Block. This surge contributed to Ethereum’s 52% monthly price increase and solidified its ETH/BTC price ratio at its strongest level since January.

Ethereum ETFs attracted $5.1 billion in July inflows, closely trailing Bitcoin’s $5.7 billion, despite Ethereum’s market cap being less than one-fifth that of Bitcoin. Institutional interest in Ethereum also surged, with data from the Chicago Mercantile Exchange (CME) showing a 527,000 ETH rise in non-leveraged open interest during the month. Glassnode data further revealed Ethereum's perpetual open interest dominance climbing near 40%, its highest level since April 2023.

As of July 29, 2025, 16:08 UTC, Bitcoin (BTC) is trading at $117,396.96, reflecting a 0.59% dip in the past 24 hours, alongside a 6.38% rise in 24-hour trading volume, according to market data. Meanwhile, as of 16:09 UTC, Ethereum (ETH) is trading at $3,757, recording a 1.11% decline in the past 24 hours but a 1.53% increase in 24-hour trading volume.