Bitcoin is trading at $115,428 after hitting $116,000, with long-term holders selling and supply pressure building. Lookonchain reports a Bitcoin OG sold 1,176 BTC ($136m) on Hyperliquid, just weeks after selling 35,991 BTC ($4.04b) for 886,371 ETH.
This whale still controls roughly 49,634 BTC valued at more than $5.4 billion, spread across four wallets, but their selling streak has already reduced holdings. Large-scale sales by early investors are closely watched, as they can shift sentiment and add liquidity shocks into the market.
Dormant wallets have also reactivated. Whale Alert flagged one address holding 479 BTC ($53M) that moved coins after 12.8 years of inactivity, while another wallet holding 445 BTC became active after nearly 13 years. Such moves often hint at liquidation risk, adding weight to current whale pressure.
ETF Demand Offsets Selling Pressure
Despite renewed selling, demand from U.S. spot Bitcoin ETFs has provided support. According to Glassnode, ETFs logged 5,900 BTC inflows on September 10 — the most significant single-day inflow since July.
That boost turned weekly ETF flows positive, underlining institutional appetite as Bitcoin holds above $114,000.
The flows highlight a tug-of-war: long-term holders are releasing supply, but regulated products are absorbing coins at scale.
For traders, the question is whether ETF inflows can keep pace with whale offloading as Bitcoin’s next move looms.
Bitcoin (BTC/USD) Technical Outlook: $122K or $112K Next?
On the charts, Bitcoin is coiling inside a descending triangle, with price pressing resistance near $116,750. The 50-day EMA at $114,360 underpins the bullish case, while the RSI at 57 signals momentum remains constructive but not overextended.
Recent spinning top candlesticks show hesitation, a typical pause before volatility expands.
If buyers force a breakout above $116,750–$119,500, BTC could quickly target $122,200, with a measured extension pointing to $124,500.
However, failure to hold above $114,000 risks a slide toward $112,000, and a deeper pullback to $108,250 remains possible.
Bitcoin (BTC/USD) Trade Setup
Think of Bitcoin as “testing the ceiling.” A confirmed breakout above $116,750 offers a long entry at $116,800 with stops under $114,000, targeting $119,500 and $122,200. Buyers may wait for dips at $112,000, where demand meets the trendline.
Whales are selling billions, and ETFs are buying. Bitcoin is at a crossroads. If demand wins, we could see a breakout to $122K+ and set up 2025 for a six-figure move.
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The post Bitcoin Price Prediction: OG Whales Are Selling BTC Again – Can ETFs Absorb the Incoming Shock? appeared first on Cryptonews.
