OG Bitcoin Whales May Not Be Cashing Out Despite Selloff Narratives, Analysts Suggest Nuance
OG Bitcoin Whales May Not Be Cashing Out Despite Selloff Narratives, Analysts Suggest Nuance
Amid a prevailing narrative that early Bitcoin investors (OG whales) are behind the latest market selloff, on-chain analyst Willy Woo highlights that metrics reveal more nuance. Contrary to the widespread belief that these long-term holders are cashing out, data suggests they might not be liquidating their positions as extensively as thought, indicating that on-chain moves alone don't tell the complete story.
“OG Bitcoin whales are dumping,” is the overarching narrative surrounding the latest Bitcoin selloff. Yet, amid nonstop chatter that Bitcoin’s earliest supporters are behind its latest price slide, on-chain analyst Willy Woo points to “nuance” in the metrics. On-chain moves don’t tell the full story; the old-guard may not be caving in just yet. Are […]
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