Bitcoin OG whale offloads $200M — could this spark a $96K panic?
A large long-term holder reportedly moved and sold about $200 million worth of Bitcoin, extending a broader LTH sell-off that has crept back into on-chain flows. The transfer came during thin liquidity windows, amplifying price impact and prompting traders to ask whether this concentrated supply could trigger renewed downside momentum toward the roughly $96K area that traders flagged as a key support.
The significance is practical: concentrated whale exits can dent bids, pressure funding rates and set up liquidations that magnify moves in derivatives markets. This isn’t a guaranteed crash, but it increases short-term risk. Market participants should monitor exchange inflows, changes in LTH balances and open interest for signs of mounting sell pressure or a rapid squeeze that could reverse the move.