Large holders of Bitcoin have resumed their selling activities following a recent price surge to $116,000. Changes in the activity of these investors may indicate future market trends.
Who Are the Large Bitcoin Holders?
According to data shared by the market intelligence firm Lookonchain, a longtime Bitcoin investor referred to as the 'Bitcoin OG' has resumed selling. Earlier this month, this investor swapped 35,991 Bitcoin for 886,371 Ethereum, valued at approximately $4.04 billion, on the Hyperliquid platform.
Activation of Long-Dormant Wallets
The activity has not been limited to a single investor. Other large wallets that had been inactive for years have recently become active. For instance, a wallet holding 479 Bitcoin became active after 12.8 years of inactivity.
ETF Inflows Offset Whale Selling Pressure
Analytics firm Glassnode reported significant inflows into Bitcoin ETFs. On September 10, approximately 5,900 Bitcoin were recorded, marking the largest inflow since mid-July, which supports demand despite the selling pressure from large holders.
The return of large holders to selling, the activation of dormant wallets, and the increase in ETF inflows all influence Bitcoin's market dynamics. Analysts continue to monitor these trends in their market assessments.
