加密量化數位資產基金 Capriole Investments 創辦人 Charles Edwards 發文指出，一批早期巨鯨正集中套現，持有比特幣 7 年以上、且在 2018 年前入場的比特幣 OG 錢包，正在大規模賣出 BTC。監測圖表將 1 億美元級別的拋售標記為橙色、5 億美元級別的拋售標記為紅色，2025 年度的圖表顏色明顯密集，顯示多筆超大額的歷史地址正進行兌現離場。

Charles Edwards, founder of Capriole Investments, a crypto quantitative digital asset fund, posted an article stating that a group of early-stage whales are concentrating on cashing out. Bitcoin OG wallets that have held coins for more than 7 years and entered the market before 2018 are selling large amounts of BTC. Monitoring charts mark \(100 million-level sell-offs in orange and \)500 million-level sell-offs in red. The 2025 chart shows a significant increase in the density of these colors, indicating that multiple ultra-large-value historical addresses are cashing out and exiting the market.