OG Bitcoin Whales Cashing Out
Charles Edwards, founder of crypto quant fund Capriole Investments, recently stated that "OG Bitcoin whales are selling." A chart illustrates how many long-term holders—those who entered the market before 2018—are now moving their coins after holding for more than seven years.
These OG whales have the lowest cost basis and strongest conviction in the market, having survived multiple bull and bear cycles. Their collective move—whether for profit-taking, portfolio reallocation, or macro-driven caution—suggests that Bitcoin’s current price level may have reached what they perceive as a "good enough" valuation zone. Given that Bitcoin recently hit an all-time high of $123,000, such profit realization appears entirely logical.
Michael Saylor's "Buy Bitcoin Now" Call
MicroStrategy founder Michael Saylor once again urged investors to "buy Bitcoin immediately." However, experienced market participants understand that Saylor’s stance is heavily biased.
His personal reputation and his company’s financial fate are deeply tied to Bitcoin’s price, making his statements inherently bullish. His comments are best interpreted as brand promotion for a company whose core asset is Bitcoin—not as an objective investment recommendation.
Ethereum's Net Supply Growth
According to Ultrasound.money, Ethereum’s net supply increased by 74,298 ETH over the past 30 days, with 84,069 ETH newly issued and 9,770 ETH burned through the fee-burning mechanism. The total ETH supply now stands at 121,195,469, with an annualized growth rate of about 0.747%.
From a macro perspective, despite short-term fluctuations, Ethereum’s annual inflation rate has been effectively kept below 1%, thanks to reduced issuance post-Merge and continued burning. This low-inflation environment—especially on a large supply base exceeding 120 million ETH—provides a solid foundation for ETH’s long-term value accumulation.