Why Are OG Bitcoin Whales Suddenly Selling Their Coins? What It Means for the Market

Jakarta, Pintu News – Early Bitcoin (BTC) holders are starting to sell their holdings, making 2025 the year with the highest BTC selling activity in recorded history.

Experts warn that this trend reflects the increasing tension surrounding Bitcoin’s price. Moreover, it also indicates a shift between short-term profit-taking and belief in long-term value.

Old Bitcoin Holders Quit

Earlier this week, a Satoshi-era Bitcoin holder sold his entire $1.5 billion holding after holding it for 15 years.

Read also: Bitcoin Price Weakens to $102,000 Today: Falling Wedge Pattern Forms, BTC Could Reach $120K?

This latest news reinforces an increasing trend that market analysts have been watching closely. More and more genuine Bitcoin holders are liquidating their positions – a growing trend amidst Bitcoin’s price volatility.

Although Bitcoin is currently hovering around $104,000, the asset has experienced negative fluctuations in recent days. It has also failed to match the high of $115,000 recorded last month.

Analyst Ted Pillows noted that with the $105,000-$106,000 target missed, Bitcoin lost its support zone again. He also pointed out another trend that indicates that the selling pressure from early Bitcoin holders is much higher than expected.

“Yesterday, the Bitcoin ETF bought $530,000,000 worth of BTC, yet Bitcoin still went down,” Pillows said in a social media post, adding, “If the bulls really want to move BTC’s momentum, they need to reclaim the $108,000 level. If this doesn’t happen, BTC will drop below $100,000 again.”

According to some experts, veteran Bitcoin holders are more focused on the long-term vision than the current price.

Actual Value Beyond Price

In an interview with Milk Road, Erik Voorhees, a well-known long-term Bitcoin holder and founder of ShapeShift, said that those who have held Bitcoin for more than a decade tend to have a fundamentally different mindset.

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Their focus is not on short-term price gains, but rather on achieving true adoption and monetary dominance of Bitcoin.

Voorhees added that early adopters who have held Bitcoin for more than a decade do not consider the current price to be significant.

“They don’t really see $100,000 as an attractive price, and they’re not trying to sell Bitcoin… for a lot of dollars. Bitcoin is a valuable thing,” Voorhees explained.

For long-term holders, Bitcoin’s value lies in its potential as a global, decentralized financial system, not as a speculative asset. They may see the price as another step in Bitcoin’s long-term journey.

Voorhees also warns that interpretation of on-chain data can sometimes be misleading.

While on-chain data is often used to track wallet movements, old coin transfers do not necessarily indicate selling. They could also represent portfolio reorganization, custody updates, or internal wallet management – a reminder that not all whale activity indicates bearish intentions.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Why OG Bitcoin Whales Are Suddenly Selling-and What It Signals for the Market. Accessed on November 13, 2025