Early Bitcoin Holder Sells $200M in BTC as Market Tests $96K Support

Early Bitcoin investor Owen Gunden sold 700 BTC through Kraken on November 11, bringing his weekly total to 1,800 BTC worth $200 million. Long-term holders have distributed approximately 414,000 BTC in November, valued at roughly $43 billion. Negative ETF flows and increased options hedging activity signal mounting market caution as traders position for potential downside below $100,000.