10x Research: The potential selling pressure from the OG wallet is a key reason why Bitcoin has struggled to rise significantly over the past six months.

PANews July 5 news, 10x Research published an analysis stating that since Trump attended the Nashville Bitcoin Summit in July 2024, a significant change has been occurring behind the scenes. Eight dormant Satoshi-era Bitcoin wallets that had been inactive for 14 years were reactivated on Friday, with a total transaction amount of 8.6 billion USD. These "OG" wallets have been a persistent issue in the market (potential selling pressure) and are a key reason Bitcoin has struggled to achieve significant gains in the past six months, despite no clear signs indicating these wallets intend to sell. The so-called "Mega Whales," which are early Bitcoin miners and long-term holders, have begun to gradually sell the Bitcoin they hold. Early holders are gradually shifting towards ETFs and corporate bonds. A covert tug-of-war is unfolding between long-term "OG" holders and institutional whales, with only one side ultimately able to win.