Bitcoin plummets to $86K as OG Whale sells all $1.3 billion BTC holdings

BTC has hit a new seven-month low.

Bitcoin’s price action took a new turn in recent hours as its value continued to plummet to $86,000 on most exchanges for the first time since April.

This means that the cryptocurrency has reached a major support line according to numerous analysts, but the most worrying part is the behavior of some whales.

Data shared by Arkham shows that Owen Gunden, a well-known Bitcoin OG who has owned the asset for 14 years, has been on a massive selling spree lately. To be precise, the entity has sold off 11,000 BTC since October, a stock worth $1.3 billion.

The latest transaction on this front took place earlier today when Arkham discovered a substantial transfer of $230 million worth of cryptocurrency to Kraken.

OWEN GUNDEN HAS ALREADY SOLD HIS $1.3 BILLION BITCOIN

Owen Gunden was an OG Bitcoin whale who had owned BTC since 2011. Since the end of October, he has sold 11,000 BTC worth $1.3 billion.

He just transferred $230 million worth of BTC to Kraken, marking his latest sale. pic.twitter.com/m0gQWCHrxZ

— Arkham (@arkham) November 20, 2025

This behavior is very different from that of other whales that gathered during the most recent broader crash, according to some reports, sending its value from more than $107,000 to $86,000 in less than ten days.

With Bitcoin falling to $86,000 minutes ago, analysts are now discussing the next major support lines that could stop the freefall. CW outlined a significant whale buying wall of $85,000, which could be the first line of defense.

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The Wolf Of All Streets believes BTC’s situation could become “really disgusting” if it heads to the 200 MA, which is at $55,000.

With its latest decline, BTC has liquidated more than $410 million in long positions in the last 24 hours, while the total value of the destroyed positions across the market is almost $900 million. CoinGlass data shows that the largest liquidation order was on HTX and was worth more than $30 million.