Bitcoin Whale Awakens: $600M BTC Dump After 13 Years of Diamond Hands
A sleeping giant just shook the crypto markets.
One of Bitcoin's earliest whales—holding since the dark ages of 2012—finally cashed out over $600 million in BTC this week. Was it profit-taking... or loss of faith?
The HODLer’s dilemma
After surviving every boom-bust cycle for over a decade, this anonymous whale chose November 2025 to break their silence. The move comes as institutional inflows hit record highs—because nothing says 'trust the system' like billionaires playing hot potato with digital scarcity.
Timing the top—or panic selling?
With BTC hovering near all-time highs, the sell-off either represents masterful exit liquidity... or proof that even crypto's true believers have price targets. Meanwhile, Wall Street analysts insist 'this time is different' as they rebrand the same volatility they once called 'tulip mania.'
The blockchain never forgets—but apparently, even diamond hands have expiration dates.
OG Whale Sells $600 Million in Bitcoin Amid Market Uncertainty
According to data from Arkham Intelligence, one of Bitcoin’s earliest and most prominent holders, Owen Gunden, has recently offloaded a significant portion of his holdings — a MOVE that has caught the attention of market analysts.
Gunden, who has held Bitcoin since late 2011, was sitting on approximately 11,450 BTC valued at $1.4 billion just a month ago. However, recent on-chain activity shows that he has sold around 6,100 BTC, worth roughly $616 million, reducing his holdings to $542 million.
This large-scale selloff comes at a critical time for Bitcoin, as the asset consolidates NEAR the $100,000–$105,000 range amid mounting selling pressure from whales. Gunden’s decision to take profit after over a decade of holding suggests a combination of profit realization and market caution, particularly as macro uncertainty and liquidity stress weigh on risk assets.
While some view this as a bearish signal, others argue that such sales often mark the late stages of a distribution phase, where long-term holders transfer coins to new investors during consolidation. If Bitcoin maintains strong support near $100K despite this heavy selling, it could indicate DEEP market demand and the potential for a renewed accumulation phase.
Bitcoin Consolidates as Bulls Defend the $100K Level
The daily Bitcoin chart shows that BTC remains in a consolidation phase, trading around $103,000 after multiple attempts to rebound from the $100,000 psychological support zone. Despite persistent selling pressure and fading momentum, buyers continue to absorb liquidity near this level, keeping the structure relatively stable.
Price action shows a series of lower highs since mid-September, reflecting ongoing market hesitation and the dominance of short-term sellers. The 50-day and 100-day moving averages (blue and green lines) are currently acting as dynamic resistance levels, with BTC repeatedly failing to close above them. Meanwhile, the 200-day moving average (red line) provides a long-term anchor, currently positioned near $98,000, which remains the next major support level to watch.
Until then, the market is likely to remain range-bound, consolidating within the $100K–$105K corridor. A breakdown below $100K could trigger further downside pressure, while a successful defense may set the stage for a recovery toward the $110K–$115K range in the coming weeks.
Featured image from ChatGPT, chart from TradingView.com
