Are Bitcoin 'OGs' Turning Bullish Again? Yes, but There's a Catch

Bitcoin (CRYPTO: BTC) may be showing early signs of renewed positioning, even as the market continues working through a major deleveraging phase.

What Made It a Profitable Cycle?

In a detailed thread on X on Aug. 13, CryptoQuant founder and CEO Ki Young Ju said Bitcoin’s “OG traders” had experienced their most profitable cycle ever, aided by a major shift in who absorbed selling pressure.

Unlike previous cycles, exchange traders weren’t the primary “exit liquidity,” according to Ju.

Instead, demand from spot ETFs and DATs absorbed significant supply.