CryptoStar

07/16 06:09

Bitcoin’s OG supply is on the move. According to

Bitcoin’s OG supply is on the move. According to CryptoQuant, a 14-year-old dormant whale just offloaded 20,000 BTC from an 80,000 BTC treasury, signaling that LTHs are beginning to strategically exit.

The sell-off sliced through two long liquidity clusters in under 24 hours, each worth over $60 million in open interest.

The result? A sharp retracement that wiped out two days of gains, pulling BTC back into the $116k–$117k range.

Still, the market isn’t flinching. The Fear & Greed Index remains elevated at 70, underscoring ongoing bullish appetite. Reinforcing this, net spot inflows have surged to a yearly high, with 15.6k BTC moving onto exchanges.

Taken together, the data suggests the market isn’t de-risking or capitulating. Instead, it’s simply realizing gains. And that’s a healthy dynamic for a structurally intact bull market.

In this context, smart money is eyeing a high-conviction reentry. Should Bitcoin revisit the $110k zone and confirm it as support, it could serve as a springboard for the next vertical leg of Bitcoin’s bull run.

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