Key Takeaways
- •OG Bitcoin whales and large institutional holders are selling significant amounts of Bitcoin, impacting market stability.
- •This sell-off activity risks pushing Bitcoin prices below $90,000.
- •Retail investors are accumulating Bitcoin as institutional whales offload their holdings.
OG Bitcoin whales and large institutional holders have started to sell significant amounts of Bitcoin, leading to potential market destabilization since the third quarter of 2025 across major exchanges.
Their selling activity is critical, risking further Bitcoin price drops below $90K, creating volatility while retail investors attempt to balance these large sell-offs.
OG Whales Liquidate Over $100 Million Since Late 2024
OG Bitcoin whales, defined as early large holders, have started a robust selling phase. These whales, with wallets dormant over seven years, began liquidations exceeding $100 million since late 2024.
Institutions like BlackRock play a crucial role, with major Bitcoin ETF liquidations totaling $2.75 billion. This shift marks a significant trend reversal in BTC investments by large holders.
Bitcoin Price Drops from $126K to Below $99K
The Bitcoin market experienced a sharp price drop, with values descending from $126,000 to $98,966. The total crypto market cap contracted by over $1 trillion, highlighting severe volatility.
Retail and mid-size wallets accumulate BTC, partially counterbalancing institutional sell-offs. This behavior reflects a dichotomy in market dynamics where smaller investors capitalize on lower prices.
Historical Sell-Offs Mirror Current Market Patterns
Similar sell-offs post-bull peaks in 2018 and 2021 led to extended market corrections, redistributing coins from whales to newer investors. Current patterns echo these historical trends.
Data indicates that persistent whale selling could push BTC prices further down, potentially below $90K. If macroeconomic conditions remain bearish, further downward pressure is anticipated.
OG Bitcoin whales are actively cashing out their holdings, illustrated by the chart showing $100M and $500M dumps by this cohort since November 2024. - Charles Edwards, Founder, Capriole Investments