Bitcoin's original holders, known as OGs, have sold over $117 million in BTC following the Federal Reserve's hawkish rate outlook. Blockchain data from Lookonchain reveals that two long-term holders offloaded more than 1,650 BTC early Thursday. One whale added 650 BTC to his previous sales, while another OG sold 1,000 BTC from a 5,000-BTC stash. Bitcoin's price fell nearly 1% to $70,600, extending a 3.5% drop from $74,500 the previous day. The broader crypto market also declined, with the CoinDesk 20 Index dropping 3% to 2,056 points. This downturn followed the Fed's decision to maintain the benchmark rate at 3.5%-3.75% and signal a slower pace of rate cuts, disappointing investors. The Fed's "dot plot" indicated only one rate cut this year, leading to a repricing of rate cut bets. Trading on Polymarket and CME Fed funds futures now suggests an 80% probability of just one rate cut in 2026.
Bitcoin OGs Offload $117M in BTC Amid Fed's Hawkish Stance
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