{"id":5664,"date":"2025-06-30T18:13:10","date_gmt":"2025-06-30T18:13:10","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/bitcoin-freezes-over-100000-as-og-whales-dump-on-wall-street-expert\/"},"modified":"2025-06-30T18:13:10","modified_gmt":"2025-06-30T18:13:10","slug":"bitcoin-freezes-over-100000-as-og-whales-dump-on-wall-street-expert","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/bitcoin-freezes-over-100000-as-og-whales-dump-on-wall-street-expert\/","title":{"rendered":"Bitcoin Freezes Over $100,000 As OG Whales \u2018Dump On Wall Street\u2019: Expert"},"content":{"rendered":"

While Bitcoin continues to hover above the $100,000 threshold, the driving forces behind this historic consolidation phase appear to be more complex than the surface-level narratives of institutional \u201cFOMO\u201d and ETF euphoria. According to multiple leading analysts, a silent rotation is underway\u2014one that suggests long-term holders are offloading their positions while corporate treasuries and institutional buyers quietly absorb the flood.<\/p>\n

OG Bitcoin Whales Are ‘Dumping’ On Wall Street<\/h2>\n

Charles Edwards, founder of Capriole Investments, Wall St since the ETF Launch in January 2024, unloading their positions.\u201d<\/p>\n

Edwards, known for blending on-chain metrics with macro frameworks, pointed to a visible dynamic shift that is now being captured in blockchain data. While older coins are being redistributed, a newer class of holders\u2014primarily treasury-oriented entities\u2014are stepping in aggressively. \u201cWe have clearly entered the heat of [the Treasury Company] trend today as many copy-cats have entered the market,\u201d he said, referencing his earlier prediction on Bits and Bips that corporate adoption would eventually eclipse ETF inflows in relevance.<\/p>\n

What makes this transition particularly remarkable is the data behind it. Edwards highlighted that 6-month-plus BTC holders\u2014commonly associated with more strategic, non-speculative accumulation\u2014have skyrocketed in the past two months. \u201cThe amount of BTC acquired in the last 2 months by this cohort has completely consumed all of the BTC unloaded by LTHs over the last 1.5 years,\u201d he said. \u201cIncredible.\u201d<\/p>\n

This cohort’s aggressive accumulation, he added, has historically preceded bullish squeezes. \u201cWhenever aggressive spikes in 6M+ holders occur, price usually squeezes following these periods. Short-term bullish,\u201d Edwards remarked. However, he tempered the optimism by cautioning that broader on-chain data still signals fragility. \u201cIf the 6M+ holders (Treasury Companies) can continue their relentless buying, that should be achievable,\u201d he noted, signaling that the flywheel has momentum, but is not yet immune to systemic pressure.<\/p>\n

\"Bitcoin<\/p>\n

Adding another layer to this developing narrative, Mauricio Di Bartolomeo, Co-founder and CSO at Ledn, offered an alternative theory. He suggested that what appears as two flows\u2014LTHs selling and Treasury entities buying\u2014might in fact be \u201cthe same trade.\u201d He wrote, \u201cLong term holders [are] selling spot to buy ETFs\/BTC Treasury Cos. Even though that feels unnatural for us bitcoiners.\u201d Di Bartolomeo framed the shift as generational, pointing out that many early adopters may simply be more comfortable in traditional financial custody rather than self-sovereign wallets.<\/p>\n

But Edwards pushed back on that explanation, arguing that if ETF migration was driving the reclassification of long-term holders, it would be evident across multiple aging cohorts. \u201cI don’t think so because we would have seen a similar uptrend over time in the 6M+ and 1Yr+ cohorts if that was the case,\u201d he replied. \u201cSome is definitely moving to equities, but it’s very typical of this stage of the Halving cycle to see LTH selling into profit.\u201d<\/p>\n

Why Bitcoin ETF Do Not Have A 1:1 Effect On Price<\/h2>\n

The apparent dissonance between rising demand and stagnant price has also prompted commentary from on-chain analyst TXMC, who warned<\/a> that most observers misunderstand what actually sets Bitcoin\u2019s price. \u201cBitcoin people grossly underestimate how little of the supply is actually setting the price every hour,\u201d he wrote. He described Bitcoin\u2019s fragmented market structure as a web of siloed exchanges, loosely synchronized through cross-exchange market-making. \u201cEach location has its own liquidity and depth which vary wildly. A large market order can have an outsized effect depending on which exchange it is placed at, and which time of day.\u201d<\/p>\n

TXMC argued that while ETFs and institutional desks are accumulating large quantities of Bitcoin, much of this activity is routed through OTC desks that bypass order books entirely. \u201cThese actions do not affect the price in the same way,\u201d he said. \u201cThe desks source their own liquidity, and only have to go into the books to fill the difference.\u201d<\/p>\n

This explanation may help reconcile why ETF inflows in the billions of dollars have failed to push BTC significantly higher. Edwards\u2019 thesis aligns with this too, insofar as the ETF boom may be fueling redistribution rather than outright net demand. TXMC added: \u201cStop underestimating how many big entities are out there looking for exit liquidity.\u201d<\/p>\n

Despite growing bullishness in cohort composition, the real test lies ahead. Whether corporate treasuries and ETF managers can absorb the remaining exit waves of Bitcoin\u2019s earliest holders remains to be seen. But if Edwards is right, the rotation may already be past its critical phase.<\/p>\n

\u201cThe flywheel still has a long way to go,\u201d Edwards concluded. And if history is any guide, these moments of consolidation amid redistribution tend to precede volatility\u2014not follow it.<\/p>\n

At press time, BTC traded at $108,044.<\/p>\n

\"Bitcoin<\/p>\n","protected":false},"excerpt":{"rendered":"

While Bitcoin continues to hover above the $100,000 threshold, the driving forces behind this historic consolidation phase appear to be more complex than the surface-level narratives of institutional \u201cFOMO\u201d and ETF euphoria. According to multiple leading analysts, a silent rotation is underway\u2014one that suggests long-term holders are offloading their positions while corporate treasuries and institutional…<\/p>\n","protected":false},"author":1,"featured_media":5665,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[56,55,69,61,120,121],"class_list":["post-5664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/5664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=5664"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/5664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/5665"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=5664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=5664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=5664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}