Early Bitcoin Investors Liquidating Holdings Amid Market Decline
Early Bitcoin Investors Liquidating Holdings Amid Market Decline
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A recent report from Bitcoinist reveals a concerning trend: early Bitcoin investors, often referred to as OGs or whales, are selling billions of dollars worth of BTC. This significant sell-off by long-term holders is identified as a major factor contributing to Bitcoin's prolonged price decline.
Bitcoin OGs Initiating Massive Sell-Offs
Data from various on-chain analytics platforms indicates a disturbing pattern among early Bitcoin investors. These 'Bitcoin OGs,' who possess substantial amounts of BTC, are actively offloading their holdings. This liquidation by long-term, high-volume investors is being cited as a primary driver behind the cryptocurrency's persistent downward price trajectory.