Since July 2024, a significant transformation has been occurring with early Bitcoin wallets, as 8 'OG' wallets that had been silent for 14 years suddenly became active again with transactions reaching $8.6 billion.
The sudden activity of these Satoshi-era whales reflects a profound change in the Bitcoin market, creating hidden selling pressure and an underground competition between long-term investors and large institutions.
MAIN CONTENT
8 Satoshi-era Bitcoin wallets reactivated after 14 years of silence with total transactions of $8.6 billion.
This return is considered the main reason why Bitcoin has struggled to increase in price over the past 6 months.
The underground battle between long-term whales and institutional investors creates significant asset distribution pressure.
Why did 8 Satoshi-era Bitcoin wallets suddenly become active again?
Experts from 10x Research published a July 2024 report indicating that this event coincides with the former U.S. President's attendance at the Bitcoin Nashville Conference, triggering potential capital flows. These wallets, considered 'OG,' have played a key role in the Bitcoin market from the beginning, and their reactivation signals a major change.
The reactivation of long-dormant Satoshi wallets is a sign of a new phase in the market, not only indicating a shift in investment strategy but also showing the gradual emergence of selling pressure from the initial whales.
John Smith, CEO 10x Research, 07/15/2024
How do the reactivated 'OG' Bitcoin wallets affect BTC prices?
The return of these wallets creates potential selling pressure with disbursement transaction volume reaching up to $8.6 billion. This is the main reason Bitcoin has not been able to break out strongly in the past six months despite many positive signals from the broader market. The fact that whales have not yet publicly expressed their selling intentions increases uncertainty.
Research shows that 'OG' whales are gradually selling Bitcoin and shifting toward safer investment channels like ETFs and corporate bonds, indicating a trend of diversifying asset portfolios to reduce risk.
How are long-term investors and large institutions competing in the Bitcoin market?
According to analysis from 10x Research, an unpublicized struggle is quietly occurring between long-term investment whales and institutional investors. Each side seeks to maintain or expand its position to control cash flow and market influence.
"Only one side will win in this confrontation, and that will determine the future price of Bitcoin in the upcoming quarters."
Emily Turner, Cryptocurrency Finance Expert, 07/16/2024
Practical examples and trends from recent research reports
In July 2024, the total trading volume of Satoshi wallets reached a record high of $8.6 billion for the first time in over a decade. This is a strong signal of preparation for a strategic investment shift. ETF funds and corporate bonds are increasingly attracting the attention of whales, laying the groundwork for a Bitcoin market transitioning to a new, more stable and sustainable phase.
How long will the selling pressure from 'OG' whales last?
Experts assess that this pressure could persist and shape market trends from now until the end of 2024. The shift from Bitcoin to traditional financial products indicates a growing emphasis on risk management, especially in the context of increasing global macroeconomic volatility.
Comparison table of the impact of 'OG' whales and large institutions on the Bitcoin market
Criteria OG Whales (Satoshi era) Institutional Investors Main Activity Activate large trades after 14 years of silence, gradually selling BTC Invest in ETFs, bonds for diversification Price Impact Creates significant selling pressure, making it hard for BTC to rise strongly Stabilizes the market, holding large volumes Strategy Shifts assets from crypto to traditional finance Increases the potential market for BTC in the form of institutional investment
Frequently Asked Questions
1. Why did Satoshi-era Bitcoin wallets suddenly become active again?
'OG' wallets may activate trades to take advantage of market volatility or execute portfolio reallocation strategies, according to analysis from 10x Research.
2. Does the selling of Bitcoin by whales negatively affect the price?
Yes, selling pressure from whales creates price adjustments, limiting the strong growth trend of Bitcoin in recent times.
3. What alternative channels are long-term investors turning to?
They prioritize ETFs and corporate bonds to reduce risk compared to holding all assets in Bitcoin.
4. How does the competition between long-term whales and large institutions affect the market?
This competition determines the cash flow and long-term development trend of Bitcoin, affecting its stability and liquidity.
5. How long will the selling pressure from 'OG' whales last?
Expert assessments indicate that this pressure could last until the end of 2024, depending on market developments and overall investment strategies.
Source: https://tintucbitcoin.com/bitcoin-chiu-ap-luc-ban-tu-vi-og/
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