Bitcoin Holds $62.5K as OG Selling Eases but Bears Maintain Pressure
Bitcoin traded near $62,500 Wednesday with long-term holder selling at a two-year low, reducing immediate sell pressure. However, derivative markets showed widening put skews and sluggish spot volume, indicating bears retained control of price direction.
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Story Updates
- Updated Sep 20, 2026, 08:04 PM: Crypto.news confirms OG selling at two-year low; Binance inflows keep $60K as technical support.
Supply Pressure Easing
Bitcoin hovered between $62,500 and $62,600 Wednesday as on-chain data showed original holder selling had fallen to its lowest level in two years, according to Crypto.news reporting. The decline in long-term accumulator outflows reduced a traditional headwind to price appreciation, though spot volume remained subdued across major venues.
Derivative Market Signals Caution
Despite the relief from reduced OG selling, Bitcoin options markets told a different story. Put skew—the relative cost of downside hedges versus upside calls—widened measurably, and overall derivative positioning reflected bear control, according to CoinDesk analysis. Ether similarly held near $1,665 with no directional conviction.
Key Levels in Focus
Binance inflows kept $60,000 in focus as a floor for near-term price discovery, per Crypto.news. The combination of reduced long-term selling pressure and sustained bearish derivative positioning suggested the market remained range-bound, lacking catalysts to break decisively higher or lower.
Why It Matters
For Traders
Low OG selling reduces overhead resistance in a range, but widened put skews suggest institutional hedging; watch $60K and $62.5K as tactical support and resistance over the next 48 hours.
For Investors
Two-year lows in long-term holder outflows may signal capitulation-phase selling is largely complete, though subdued volume limits conviction about a durable bottom.
For Builders
Range-bound price action and flat volume often precede volatility expansion; monitor on-chain funding rates and exchange inflows for early signals of directional conviction.
This article is for information only and is not financial advice. Read the full disclaimer.
