The sudden movement of a big holder, and the deep pockets of early investors are linked with a dramatic wobble. Bitcoin Prices this week
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Old whales hold deep profit
Willy Woo claims that the supply of goods is limited. held by OG (“original gangster”) whales Who built up big positions in 2011 around the time Bitcoin was about $10?
He cautioned that the cost basis gap makes a significant difference. It takes approximately $110,000 in new capital to absorb every Bitcoin sold by these Bitcoin holders.
This math, says he, helps explain the slow price movements despite a growing market.
Market observers claim that a whale switching from Bitcoin to Ether triggered a sell-off which temporarily knocked $45 billion of Bitcoin’s value off the market.
Why has BTC been moving so slowly in this cycle?
BTC’s supply is concentrated around OG Whales (orange/dark orange) who accumulated their highest holdings between 2011 and 2012.
The BTC they bought was $10 or less. To absorb one BTC, it takes at least $110k in additional capital. pic.twitter.com/7CbWXsvX2l
— Willy Woo (@woonomic) August 24, 2025
Flash Crash Unfolds Quickly
Bitcoin fell from $114.500 to $112.980 within nine minutes. It briefly reached $112,000. CoinMarketCap data shows.
Ether decreased by 3.8%, falling from $4.925 down to $4.680, in this same period. The prices later recovered approximately half of the losses. A chain of transfer is cited by traders as the cause.
There are also large transfers and whale rotations.
Blockchain.com records show that roughly 24,000 BTC — about $2.7 billion at the time — was sent to the decentralized perpetuals platform Hyperliquid across six transfers beginning Aug. 16.
MLM, a MLM analyst, reported that 18,142 BTC were sold, and a large portion of those proceeds was converted into 416 590 ETH. A chunk of those ETH — 275,500 — was staked, worth about $1.3 billion.
Strategic positioning and big gains
The whale was reported to have taken on leveraged positions of large amounts, longing 135260 ETH at Hyperliquid, for a combined exposure around 551,861 Ethereum, worth more than $2.6 Billion.
The same analyst said that this trade netted $185 million. The longs were a boost ETH prices As other traders followed flows and the whale closed positions, rapid reverses led to cascading sales orders.
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The Forces at Work
The whale is still in control of 152 874 BTC, which he has spread across multiple addresses. These funds were originally transferred off a exchange around six years ago.
The market watchers believe that there are two main forces in play: holders who have been dormant for a long time and those traders who use large rotations of stocks to take advantage of short-term movements.
The sellers may test again the market demand, if they sell more BTC. On the contrary, the large amount of ETH that is being staked indicates at least a long-term intention from the big players.
Chart from TradingView, Featured Image from Meta
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Source: www.newsbtc.com
