Bitcoin OG Whales Offload Thousands of BTC as Price Falls Below $71,000

Several long-term Bitcoin holders sold sizeable positions as the asset fell below $71,000 in the past 24 hours, Lookonchain data show. One OG wallet that received 5,000 BTC at $332 roughly 12 years ago offloaded another 1,000 BTC worth about $71 million, bringing total sales since Nov. 26, 2024 to 3,500 BTC at an average of $96,262, for an estimated profit of $442 million. Another OG address tagged as belonging to Owen Gunden sold 650 BTC in the last day on top of a previous 11,000 BTC sale valued at over $1.1 billion, with these disposals occurring as Bitcoin dropped from above $74,000 toward $70,000 after the Fed kept rates unchanged. In contrast, whale address bc1qfs purchased another 500.78 BTC worth $37.16 million yesterday and has accumulated 2,656 BTC at an average price of $72,063 since Mar. 10, valued at $191.43 million.