15 hour ago
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OG Bitcoin Whales Dumping Over $1 Million BTC Since June 2025
Charles Edwards, founder of Capriole Investments, has highlighted a bearish trend in the Bitcoin market:
- Over 1 million BTC have been sold by long-term investors since June.
- "OG" Bitcoin holders who kept assets for over seven years are cashing out significantly, with sales reaching as much as $500 million at a time.
- This selling pressure has persisted since November 2024, contributing to Bitcoin's underperformance in 2025.
- The market has shown resilience by absorbing these sales without drastic price drops typical of past cycles.
Additional insights from market analysts:
- A major liquidation event on October 10 failed to help Bitcoin reclaim support levels of $117,000 and $112,000.
- Markus Thielen from 10X Research suggests the market may be in a bear cycle, with potential for further price drops.
- Thielen warns of a possible correction that could lower Bitcoin prices to the $70,000 range due to a lack of support below $93,000.
- The strong US dollar poses additional challenges for the cryptocurrency markets.
