OG Bitcoin Whales Dumping Assets: Chart Reveals Significant Sell-Off Activity

Charles Edwards, founding father of Capriole Investments, has recognized a regarding pattern within the Bitcoin (BTC) and broader cryptocurrency market that provides to the continued sentiment of bearishness amongst buyers. 

Over 1 Million BTC Sold By OG Investors Since June

In a latest post on the social media platform X (previously Twitter), Edwards highlighted that “OG” Bitcoin whales are actively cashing out their holdings.

Accompanying his remarks was a chart illustrating the extent of this phenomenon, exhibiting on-chain spending from “OG” Bitcoin holders—those that have held their belongings for over seven years. 

The chart prominently options two color-coded classes: orange for $100 million dumps and pink for $500 million dumps, vividly demonstrating the size of liquidations by these long-term buyers. 

Notably, the chart reveals that OG Bitcoin whales have been offloading their belongings constantly since November 2024, which helps clarify Bitcoin’s underperformance in comparison with different danger belongings all through 2025.

Despite this promoting stress, the market has exhibited uncommon resilience, absorbing these massive sell-offs with out experiencing the drastic value declines usually seen in earlier cycles. 

This conduct represents a brand new sample for the market, as Wall Street analysts have famous that the online gross sales from long-term holders have surpassed 1 million Bitcoin since late June, in line with analysis from Compass Point analyst Ed Engel.

Potential Liquidations Driving Bitcoin To $70,000

A major liquidation of leveraged crypto positions on October 10 additional compounded the market’s struggles, with Bitcoin failing to regain vital assist ranges of $117,000 after which $112,000. 

Markus Thielen, founder and CEO of Singapore-based 10X Research, expressed his considerations in an interview with Yahoo Finance, noting that the lack to reclaim these ranges means that the market might certainly be in a bear cycle. 

His agency, which had beforehand predicted Bitcoin would fall to $100,000, now believes the market may very well be “a number of weeks away” from discovering a buyable backside.

Thielen additionally warned of a possible correction that might see Bitcoin costs decline additional, citing the latest energy of the US greenback as an extra problem for the crypto markets. 

He talked about an “air pocket” under $93,000, indicating a scarcity of assist that might result in additional liquidations, probably driving costs right down to the $70,000 vary.

Featured picture from DALL-E, chart from TradingView.com