On-chain trackers report that early Bitcoin investor Owen Gunden has moved large blocks of BTC to exchanges and may be preparing to sell roughly 11,000 BTC (~$1.12B), a development that markets are treating as a potential near-term supply shock.
Key Takeaways:
- Lookonchain shows recent transfers attributed to Owen Gunden, noting roughly 3,549 BTC moved in the latest tranche, part of a larger pattern of deposits since October.
- Bloomberg/aggregator reporting flagged a Bloomingbit story summarizing Gunden’s exchange deposits and the market reaction.
- Broader crypto market holds steady as Bitcoin (BTC) trades near $102.2K with RSI indicating nearly neutral and no immediate overbought/oversold conditions.
On-chain analytics accounts and X posts tracked by several crypto outlets show Owen Gunden, known for being an early holder of Bitcoin with roughly 10K to 11K BTC, moving sizeable amounts of Bitcoin onto centralized exchanges over the past weeks. The most recent posts report a transfer of 3,549 BTC in the latest movement and multiple earlier deposits to venues such as Kraken, Binance, and Coinbase.
Bloomingbit highlighted these on-chain flows and the potential implications for market liquidity. Lookonchain’s public thread has become the focal point for the story, providing timelines and screenshots of transaction bundles that suggest a substantial BTC position may be staged for sale. These repeated deposits since late October have caught the attention of traders and analysts alike.
Analysts Warn: Deposits Could Signal Imminent Selling
No direct public statement from Gunden or his representatives has been published, meaning coverage relies on on-chain attribution and exchange deposit observation. Experts caution that while moving BTC to exchanges is a necessary step for selling, it is not conclusive evidence of an immediate dump. Wallet transfers can reflect rebalancing, custody consolidation, or preparation for over-the-counter (OTC) trades.
However, a sustained pattern of large deposits increases the probability of eventual spot sales, which could put pressure on liquidity and short-term price discovery. On-chain analytics platforms like Arkham and Onchain Lens indicate that this entity’s deposits have been consistent and sizeable, a pattern that historically correlates with market-impacting selling events.
BTC Holds as Traders Eye Liquidity Risk
As of this writing (10:30AM UTC), TradingView’s real-time market statistics show Bitcoin (BTC) is trading around $102,198, reflecting modest drop of 0.3% over the past 24 hours. CoinGecko’s latest market data reveal that the token reached intraday highs around $102,469 and intraday lows near $101,490, indicating an unnoticeable market volatility for BTC and sideways price action.
So far, market is being seen as cautious, particularly as BTC ranges narrowly in the day. Liquidity providers and derivatives desks are closely monitoring further exchange inflows, as additional large deposits could trigger wider spreads or sudden sell-offs.
What’s Next?
Traders and investors should track exchange order-book depth and spot volumes over the coming days. Further deposits from Gunden’s entity may result in a short-term volatility, though OTC settlements could limit price impact. This story show how essential crypto portfolio liquidity monitoring is, as large whale transactions can affect both spot prices and derivatives positions, even in stable market conditions.
While a full-scale BTC sale is not guaranteed, the ongoing inflows signal a potential shift in market dynamics. Keeping an eye on on-chain flows, exchange order books, and OTC activity will help in assessing the short-term risk to Bitcoin and broader crypto markets.
Summary
On-chain trackers report Owen Gunden has moved large BTC blocks to exchanges, with about 3,549 BTC in the latest tranche and an estimated total near 11,000 BTC potentially staged for sale, raising short-term liquidity concerns.
