According to @adam3us, the significant BTC price dip on July 25 was apparently triggered by Galaxy Digital (GLXY) offloading 80,000 BTC using a rushed TWAP strategy. The analysis suggests that purchases at the $117,256 level during this period are plausible. Furthermore, MicroStrategy (MSTR) would require $2.5 billion in credit to have acquired BTC before the STRC proceeds due on July 29, or to hedge against price movements in a reactive manner. This large-scale selling event and related credit requirements highlight potential volatility and liquidity risks for BTC traders and institutions in the current market, underscoring the importance of monitoring large entity activity and major credit events for trading decisions (source: @adam3us).