Satoshi-Era Bitcoin Whale Owen Gunden Sold Enormous Portion of Bitcoin Holdings

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Bitcoin owners wake up Contributing to the pressure Advertisement Large-holder activity is putting pressure on Bitcoin once more as a well-known early adopter, often referred to as a Satoshi-era whale, has started selling heavily again. Bitcoin owners wake up Longtime Bitcoin owner Owen Gunden is said to have sold an additional 650 BTC worth about $46.3 million just 10 hours ago, contributing to a larger distribution pattern that has been developing over the past few months. This most recent deal comes after a previous significant liquidation in which Gunden sold about 11,000 BTC, or about $1.12 billion, making it one of the most prominent whale exits in the current cycle. Bitcoin OG Owen Gunden just deposited all his remaining 2,499 $BTC ($228M) into #Kraken an hour ago. https://t.co/qyZllJWfFS https://t.co/rbkUUTxjLa pic.twitter.com/7JkIoQ3DsK — Lookonchain (@lookonchain) November 20, 2025 As the market develops and liquidity increases, early holders are progressively lowering their exposure, which is a recurring trend. Additionally, according to on-chain data, Gunden had previously deposited his remaining 2,499 BTC (roughly $228 million) into Kraken in November 2025, indicating a clear intention to set those funds up for possible sale. Rather than being carried out in a single liquidation event, the recent transaction indicates that this strategy is now being implemented in stages. Advertisement Contributing to the pressure This kind of activity is significant from a market standpoint because significant inflows to exchanges usually result in increased short-term sell pressure. Coin holders are often getting ready to distribute their assets when they transfer from cold storage to exchange wallets. The psychological effects of a Satoshi-era whale can be just as important as the actual liquidity infusion, because market players often see such actions as an indication of waning long-term conviction. HOT Stories Billion Dollar XRP Treasury Vehicle Evernorth Prepares for Nasdaq Listing Crypto Market Review: Bitcoin (BTC) Not Giving up on $80,000, Ethereum (ETH) Has Golden Cross Potential, Is XRP at Risk of Losing $1.50 for Good? You Might Also Like Wed, 03/18/2026 - 20:38 Brandt Spotlights 'Ugly' Bitcoin Pattern By Alex Dovbnya Technically speaking, Bitcoin is currently trading in the low $70,000 range after recovering from recent lows and is trying to stabilize after a more extensive corrective phase. However, if the market finds it difficult to effectively absorb this supply, persistent sell-side pressure from large holders may stifle any bullish momentum. Advertisement Having said that, it is critical to understand that markets are dynamic. It is a normal part of Bitcoin’s lifecycle for early adopters to sell their holdings, shifting the supply to new owners. Although Gunden’s actions might cause short-term volatility, the long-term structural outlook for Bitcoin remains valid. For the time being, investors should keep a close eye on exchange deposits and whale flows because ongoing large-scale selling may continue to have a significant impact on the short-term price direction of Bitcoin. #Bitcoin #Cryptocurrency Whales