Long-term Bitcoin holders, also known as “OG whales,” appear to be taking profit and continuously reducing their positions after Bitcoin’s recent rally. On-chain analytics indicate that some of the earliest investors in BTC — those who accumulated large bags years ago — have been gradually moving coins from cold wallets to exchanges. This movement is usually interpreted as preparation to sell.
Market analysts say this consistent distribution from experienced whales is adding noticeable selling pressure. While Bitcoin is still holding within a strong price zone, the fear is that if these big sellers continue unloading, it could drag the market lower.
Whale behavior matters because they control a large percentage of circulating Bitcoin. When this category of investors starts taking profit aggressively, it usually signals a shift in market sentiment. These are individuals and early institutions who have witnessed multiple Bitcoin cycles, so their actions often reflect deeper expectations.
Some experts now believe the current trend could increase the probability of Bitcoin revisiting the $90K region, especially if retail traders lose confidence or if spot demand cools down. This does not automatically mean a long-term bearish trend, but it suggests that volatility could increase in the short term.
At the same time, other analysts argue this phase could simply be a healthy correction within a bigger bullish cycle. Bitcoin has historically experienced multiple retracements during upward momentum. The market will likely react to how strong buying demand is from new entrants, mining companies, and institutional investors.
For now, the behavior of OG whales is a major signal to watch. Their continued sell-off is a reminder that even in bullish markets, large holders can influence price direction — and Bitcoin could be entering another sensitive zone where emotion, profit-taking, and market psychology collide.
Bitcoin OG whale dumping. Source: Glassnode
Another factor adding to the concern is the timing. Historically, Bitcoin whales usually reduce their holdings after a major price surge. This is because they prefer to lock in profits at strong resistance levels rather than wait for a possible pullback. Their experience in multiple market cycles gives them a strategic advantage, and their activity often predicts short-term market direction.
In addition, there has been a noticeable increase in large BTC transactions moving between private wallets and exchanges. Whenever there is a spike in these movements, the market becomes sensitive. This is because exchanges are the primary place where these coins can be instantly sold to the public. Analysts say this pattern suggests preparation for liquidation rather than simple rebalancing.
Traders are now watching liquidity zones closely. Many technical analysts have pointed out that if Bitcoin fails to sustain strong support around its current range, it could trigger a cascade of stop-loss orders from retail traders. When liquidation events occur in crypto, the price can fall sharply in a short period, especially if stablecoin buying does not pick up immediately.
However, it is also important to highlight that Bitcoin remains in a broader adoption trend. Institutional investment remains strong, Bitcoin ETFs are being heavily monitored, and many companies continue to increase BTC exposure as a long-term asset. These factors could provide a counter-balance to whale selling, especially if new capital enters the market at lower price points.
Bitcoin OG whale spending events. Source: Glassnode
Ultimately, the situation reflects the constant push-and-pull between long-term holders who want to realize profit, new investors entering at higher levels, and traders trying to predict the next major move. Whether Bitcoin revisits $90K or bounces back stronger will depend heavily on market behavior in the coming weeks, exchange inflows, and how long OG whales continue to offload their coins.
For now, this whale activity is a key red flag for traders and analysts, and it continues to be one of the biggest signals shaping short-term expectations in the crypto market.
Source: Cointelegraph Edited by Sonarx