Bitcoin’s 12% God Candle: Did OG Whales Just Kickstart the Next Bull Market?
Rather a lot can change in the cryptocurrency markets inside comparatively small time home windows, typically even hours. This is what occurred over the previous 24 hours.
Bitcoin stood sideways under $65,000, the place it spent most of the previous a number of weeks. It had calmed in a good vary between $62,000 and $65,000, as each boundaries had been too sturdy to be overtaken.
However, all of it modified out of the blue on Wednesday afternoon. While the causes are nonetheless broadly debated, maybe the US Treasury Department’s transfer and the White House crypto event are main the hypothesis.
CryptoQuant’s CEO, although, outlined one thing completely different that may have brought on the sharp uptick – OG whales. According to the outstanding analyst, these extremely vital market individuals opened large longs at BTC’s value backside of underneath $63,000 final week, and the asset took off inside days.
As such, he decided that they “nonetheless know, or resolve, when the Bitcoin bull run begins.”
Looks like OG whales nonetheless know, or resolve, when the Bitcoin bull run begins.
Massive longs had been opened at the backside on exchanges final week, and now value is taking off. https://t.co/eJ0mBuvfGO pic.twitter.com/dxucxSOMA7
— Ki Young Ju (@ki_young_ju) August 20, 2026
In a separate tweet, Ki Young Ju outlined one other optimistic change in the broader BTC panorama. He defined that the Bitcoin demand has turned optimistic in each spot and perpetual futures for the first time since October 2025 – a month by which the cryptocurrency charted its all-time high and subsequently skilled one in every of its worst crashes in historical past.
Although the scale stays modest, CQ’s government continued, it could be affordable to conclude that the bear market is over if it holds for an additional month.
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