Quite a bit can change within the cryptocurrency markets inside comparatively small time home windows, typically even hours. That is what occurred over the previous 24 hours.
Bitcoin stood sideways under $65,000, the place it spent a lot of the previous a number of weeks. It had calmed in a decent vary between $62,000 and $65,000, as each boundaries had been too sturdy to be overtaken.
Nevertheless, all of it modified abruptly on Wednesday afternoon. Whereas the explanations are nonetheless extensively debated, maybe the US Treasury Division’s transfer and the White Home crypto occasion are main the hypothesis.
CryptoQuant’s CEO, although, outlined one thing completely different that may have prompted the sharp uptick – OG whales. In accordance with the outstanding analyst, these extremely necessary market individuals opened huge longs at BTC’s value backside of beneath $63,000 final week, and the asset took off inside days.
As such, he decided that they “nonetheless know, or determine, when the Bitcoin bull run begins.”
Seems to be like OG whales nonetheless know, or determine, when the Bitcoin bull run begins.
Large longs had been opened on the backside on exchanges final week, and now value is taking off. https://t.co/eJ0mBuvfGO pic.twitter.com/dxucxSOMA7
— Ki Younger Ju (@ki_young_ju) August 20, 2026
In a separate tweet, Ki Younger Ju outlined one other constructive change within the broader BTC panorama. He defined that the Bitcoin demand has turned constructive in each spot and perpetual futures for the primary time since October 2025 – a month during which the cryptocurrency charted its all-time excessive and subsequently skilled certainly one of its worst crashes in historical past.
Though the size stays modest, CQ’s government continued, it will be affordable to conclude that the bear market is over if it holds for an additional month.
The submit Bitcoin’s 12% God Candle: Did OG Whales Simply Kickstart the Subsequent Bull Market? appeared first on CryptoPotato.