Balance

Bitcoin

Arkham

In the latest Bitcoin news, a BTC OG has made headlines with his continuing selling spree, which has spooked traders.As BTC price struggles to hold above the $102,000 support, the latest selloff update appears to have weighed on the investors’ sentiment.Following the news, Bitcoin USD also slipped below the $102k mark, indicating panic among market participants.A separate report showed that another Bitcoin OG has closed all his long positions on the flagship crypto, signaling a waning risk-bet appetite of traders.Having said that, many are evaluating whether the selling pressure could hinder the much-anticipated BTC rally through $107k mark.So, here we take a closer look at the latest Bitcoin news and see how it may impact the crypto’s momentum in the near future.<h2 class="wp-block-heading" id="h-bitcoin-news-bitcoin-og-moves-3600-btc">Bitcoin News: Bitcoin OG Moves 3600 BTC</h2>A renowned early adopter of Bitcoin, Owen Gunden, has sparked concern among traders with a massive selloff.According to the latest Bitcoin news, he has moved 3,600.55 Bitcoin worth $372 million.According to <a href="https://x.com/lookonchain/status/1987090631580406233" rel="noopener noreferrer nofollow">Lookonchain</a>, 500 BTC, worth $51.68 million, has already been deposited into Kraken. Besides, the remaining 3,100.55 BTC, valued at $320.46 million, is likely to follow suit in the coming days.Meanwhile, this isn’t an isolated incident, as Gunden has deposited 1,289 BTC, worth $138.2 million, and 3,265 BTC, valued at $364.5 million, to Kraken on November 4 and since October 21, respectively.This latest transaction has added to the growing unease in the crypto market, with Gunden’s selling spree now totaling over $874 million since October 21.It appears that the selloff has contributed to the Bitcoin price decline below $102k again today. Analysts attribute this downward trend to large whales, including Gunden, offloading their holdings.With Gunden still holding over $300 million worth of BTC, the market may witness further selling pressure.<div class="wp-block-image"><figure class="aligncenter size-full"><img width="950" height="450" src="https://www.thecoinrepublic.com/wp-content/uploads/2025/11/image-256.png" alt="Bitcoin News: BTC OG Wallet Balance | Source: Arkham" class="wp-image-1554818"><figcaption class="wp-element-caption"> Bitcoin News: BTC OG Wallet Balance | Source: Arkham </figcaption></figure></div>Adding to the bearish sentiment, another Bitcoin OG, 1011short, has closed all his BTC longs.In this trade, the BTC OG recorded a loss of $1.3 million and shifted focus to Ethereum, holding 40,000 ETH, worth $138 million, with a liquidation price of $2,532.81.Meanwhile, 1011short also deposited approximately 13,000 BTC, valued at around $1.48 billion, to major exchanges since October 1.This data further fueled market concerns, reflecting the heavy selling pressure in the market.<h2 class="wp-block-heading" id="h-what-s-next-for-btc-price">What’s Next for BTC Price?</h2><a href="https://www.thecoinrepublic.com/price-prediction/bitcoin/" rel="noopener noreferrer nofollow">BTC price</a> was up around 2% from yesterday, erasing some of its recent losses, and traded at $101,950.Notably, the crypto has touched a 24-hour low of $99,257.06 while recovering to $104k in the same time frame.However, it seems that the latest Bitcoin news of the BTC OGs selling and closing their long positions has impacted the rally.This has also left investors questioning if BTC price could break through the $107k resistance ahead.A flurry of market experts said that Bitcoin price must break through the $107k resistance to reclaim the $110k level.Following that, the major resistance lies at $112k, clearing which <a href="https://www.thecoinrepublic.com/2025/11/07/is-bitcoin-price-prediction-of-125k-still-in-cards-heres-what-experts-think/" rel="noopener noreferrer nofollow">could help in a surge</a> to $120k for the flagship crypto.However, if the selling pressure continues, BTC price may have to struggle for some time to attain a new high.In a worst-case scenario, it could also dip below the $100k level, which might impact the broader crypto market sentiment.The post <a href="https://www.thecoinrepublic.com/2025/11/08/bitcoin-news-bitcoin-og-dumps-372m-in-btc-more-selloff-incoming/" rel="noopener noreferrer nofollow">Bitcoin News: Bitcoin OG Dumps $372M In BTC, More Selloff Incoming?</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.

Bitcoin News: Bitcoin OG Dumps $372M In BTC, More Selloff Incoming?

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