The possibility of Bellingham to join Real Madrid looks like higher than before indeed:

He has two more years on his contract in theory but I just don't give him any chance about not leaving the team this summer. Dortmund must also be aware of the inevitable situation now. They just need to sell him for as high price as possible to make a huge profit in his transfer at least. He arrived here from Birmingham for only 25 million euros. In only three years he managed to increase his market price to 120 million euros. This change is really insane and he is absolutely a very valuable wonderkid.
I think he will be joining Real Madrid by rejecting other offers.
This condition is still the same as before because rumors about Jude have actually existed since the previous season's transfer and indeed Madrid is one of those who have a great desire for this player, especially in this case he can become a worthy successor to Modric later because Modric's age is already not young anymore and Camavinga is more prioritized on the line of defense or it could be a left back option.
The problem is now it's not just about Madrid, the offer is big enough but if any other club is now as hopeful as Jude I think the offer can be passed so Madrid still can't say this offer can work in their favor.
I don't know if the rumors are true, but so far Dortmund is still in a decent position for a potential trade I think. They want to offer him a 15m Euro salary if he agrees to a one year extension and a release clause for 150m Euro. I think it could be the right step for him.
I have always been impressed by the way that Haaland approached the whole transfer topic. He stayed calm, delivered and took one step after another. But the clause he had implemented in his contract was golden of course because he could take a lot of money for signing a contract with any new club.
Now I believe that Bellingham is still going to wait and see what Liverpool is doing in the Premier League. Would he really sign a contract with a team that does not play internationally? That's why I would almost rule Liverpool out at this point unless they still qualify. The most likely option for Bellingham is probably going to be Real Madrid or one more year at Dortmund. A 15m salary would be quite competitive. But young players decide very early on these days that they want to leave their club for a bigger one, taking the risk that they perhaps won't play a big role.