New Investors Drive Bitcoin Sell-Off; OGs Hold
Samson Mow, CSO of Jan3, blames the latest Bitcoin sell-off on new investors taking profits. He says traders who bought in the last 12–18 months, including ETF participants, are liquidating to lock in 20%–30% gains amid bearish market whispers. This Bitcoin sell-off has pushed prices down from over $126,000 toward $100,000 and triggered major liquidation events in October. Mow contrasts this trend with OGs—long-term holders who continue hodling and absorbing coins from speculators. He argues that the new investors’ sell-off is now depleted and forecasts a bullish rebound in 2026, driven by renewed conviction and limited selling pressure.
Bullish
Samson Mow’s analysis suggests that the recent Bitcoin sell-off was driven by short-term speculators rather than long-term holders. Historically, profit-taking by new entrants has signaled cycle lows—once retail selling pressure subsides, a price rebound often follows. For instance, the 2020 sell-off saw similar profit-taking before Bitcoin’s late-year rally. In the short term, prices may stay subdued as residual ETF-related selling continues. However, with OG holders holding onto their coins and new sellers depleted, Mow expects reduced selling pressure to pave the way for a bullish market phase in 2026. This pattern aligns with past cycles where lasting rallies emerged after speculator capitulation.