Bitcoin’s next rally will start once OGs finish selling: Analysts

Long-term Bitcoin holders have taken profits at unprecedented levels, with daily realized gains reaching $1.7 billion. This sell-off has created significant resistance, preventing recovery in the Bitcoin market, as noted by analyst James Check. Current data suggests that the age of spent coins has increased, indicating that older coins are being sold by long-term holders. The overall selling pressure is not seen as a market manipulation, but rather as a natural turnover of supply from OGs to institutional investors, referred to as TradFi. While some analysts express hope for Bitcoin prices to rally, stating that stability around $110,000 is key for a potential rise to $120,000, the ongoing sell-off presents challenges. Experts acknowledge that the significant wealth taken out of the market could limit growth until OGs finish their selling spree.

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