10x Research: Potential selling pressure from Bitcoin OG wallets is one of the key reasons why Bitcoin has struggled to achieve significant gains over the past six months
According to Odaily Planet Daily, 10x Research reports that eight Bitcoin wallets from the Satoshi era, dormant for 14 years, were reactivated on Friday, involving transactions totaling $8.6 billion. These OG wallets have long represented potential selling pressure in the market and are considered one of the key reasons why Bitcoin has struggled to achieve significant gains over the past six months, although there is currently no clear indication that these specific wallets intend to sell.
The group of "super whales," consisting of early Bitcoin miners and long-term holders, is gradually reducing their positions, while demand from crypto ETFs and corporate treasuries continues to rise. This hidden tug-of-war may determine Bitcoin's short-term price movement.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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