Bitcoin whales relaunch sales while the price goes under $ 116,000

The major Bitcoin holders resumed their sales while the price of cryptocurrency fell under $ 116,000, its highest level in almost three weeks. This type of movement, involving long -term investors, is generally considered a key signal for the entire market.

A “Bitcoin Og” resumes its sales

According to Lookonchain's data, a historic investor, nicknamed Bitcoin Og, resumed its sales after a short break.

At the beginning of September, he had exchanged 35,991 BTC (≈ 4.04 MD $) for 886,371 ETH (≈ 4.07 MD $) on the hyperliquid platform, at the rate of 0.0406 BTC/ETH.

After two weeks of inactivity, the same holder transferred 1,176 BTC (≈ 136.2 million $) to Hyperliquid, before proceeding with an active sale, thus reducing his position more.

During the initial exchange in ETH, Lookonchain still estimated his assets at 49,634 BTC (≈ 5.43 MD $) spread over four wallets. These recent sales significantly reduce this total.

The movements of this magnitude, especially emanating from long -standing holders, are closely monitored: they increase the available offer and can exert high bearish pressure, especially when they occur suddenly.

Dormant wallets wake up after more than 10 years

The phenomenon does not concern only one investor. Several dormant wallets reactivated after more than a decade:

• The Whale Alert Blockchain tracker identified an address holding 479 BTC, worth 53 million dollars, which became active after 12.8 years of inactivity. The sudden movement of these old pieces is often seen as a signal that the holder could prepare to sell.
• Another case concerned a wallet with around 445 BTC which was untouched for almost 13 years. The holder transferred part of these parts to the Crypto Kraken exchange platform.
• The reactivation of these long -standing portfolios and their transfers have aroused expectations that the owners could now prepare the liquidation of at least part of their positions.

ETF compensates for the selling pressure

While older holders move parts to exchange platforms, other market forces show high demand. The Glassnode analysis company reported that the American cashcoin ETFs recorded Net influx of approximately 5,900 BTC on September 10. It was the largest influx on a single day since mid-July.

The important influx of ETF passed the weekly totals in positive territory, showing a renewed demand from investors while Bitcoin remained stable above $ 114,000.

On the technical level, Bitcoin reached $ 116,000 on Friday, its highest since August 23, before retreating slightly under selling pressure. It is now evolving around $ 114,735.

Market analyst Rekt Capital noted that the weekly Bitcoin fence above $ 114,000 positions the asset closer to finding what is described as its reactive area. Confirmed maintenance above this threshold would not only allow an additional increase but could also mark the end of the recent corrective phase.