Bitcoin News Today: Bitcoin Whales Cash Out as Price Tumbles, Testing Market Resilience

Bitcoin Whale Activity Doubles as Holders Take Profits

Bitcoin's long-term holders are accelerating profit-taking, with on-chain data showing a surge in selling from "OG" whales-investors who have held their Bitcoin for seven years or more. This trend has intensified in 2025, raising concerns about potential downward pressure on BTC's price, which has already fallen 18.7% from its all-time high of $126,000. Analysts attribute the selling to a combination of strategic portfolio rebalancing and the maturation of long-held coins into liquidation-ready positions according to on-chain analytics.

Capriole Investments co-founder Charles Edwards highlighted the scale of the outflows, sharing a chart that color-codes dumps exceeding $100 million (orange) and $500 million (red). The visualization reveals persistent selling since January 2025, with Edwards noting, "OGs are cashing out," a sentiment echoed by on-chain analytics firm Glassnode. The firm's data shows that events where these whales spend over 1,000 BTC per hour have become increasingly frequent, signaling a broader distribution phase.

The impact of this activity is already visible in Bitcoin's price action. BTC/USD recently dropped below $100,000 for the first time in months, trading at $98,500 as of November 13. Glassnode analysts linked the decline to accelerating sales from long-term holders (LTHs), who typically hold coins for over 155 days. While such holders are often seen as market stabilizers, their recent behavior suggests a shift in sentiment. The latest wave of selling follows similar patterns during the 2024 rallies, indicating a cyclical trend.

Despite the downward pressure, some experts argue that the selling reflects normal market dynamics rather than bearish sentiment. According to an analysis from Bitcoin World, "strategic BTC holders are 'realizing profits after Bitcoin's sustained performance above $100,000.'" The platform noted that while increased selling could test the $100,000 support level, the resilience of that threshold-despite the outflows-demonstrates underlying demand from new buyers. This balance between supply and demand, they argue, underscores Bitcoin's maturing market structure according to the analysis.

The bearish momentum has also sparked technical concerns. A bear pennant pattern, a continuation pattern suggesting further declines, projects a potential drop to $89,600. However, whether this becomes a reality will depend on the interplay between selling pressure and incoming demand. Historically, bull markets have persisted when fresh buyers absorb distribution from long-term holders, but the current environment remains untested according to technical analysis.