Bitcoin Fails to Hold $116K as OGs Rotate Into Ether: Crypto Daybook Americas
0Your day-ahead look for Sept. 15, 2025.
By Omkar Godbole (All times ET unless indicated otherwise)
The crypto market has stalled since Saturday, with bitcoin BTC$115,112.80 once again failing to keep gains above $116,000 alongside continued selling by wallets of early adopters, or OGs.
According to blockchain analyst Lookonchain, on Sunday an eight-year BTC holder moved 1,176 BTC worth over $136 million to Hyperliquid and started dumping. This holder is known to have exchanged 35,991 BTC for 886,731 ETH in recent months.
Other long-term holders have also been liquidating coins in recent months as the market continues to adjust to a six-figure price as the new normal for BTC.
But the latest selling is not just limited to long-term holders. On-chain data tracked by Glassnode showed that wallets of all sizes are back to distributing coins.
In ether's case, whale wallets continue to scale exposure, suggesting ether outperformance relative to bitcoin. The ether-bitcoin ratio on Binance, however, fell for a third consecutive day, unable to capitalize on the descending trendline breakout confirmed on Friday.
Memecoins, the recent outperformers, have also come under pressure, with top tokens, DOGE and SHIB, losing 10% and 6%, respectively, over the past 24 hours.
Solana's native token SOL traded over 2% lower at $234 despite key industry participants taking steps to accelerate the adoption of Solana-native decentralized finance (DeFi).
Kyle Samani, chairman of Nasdaq-listed Solana treasury company Forward Industries, said on X that the company plans to deploy funds into the Solana-based DeFi protocols. Last week, Forward raised $1.65 billion in a private placement led by Multicoin Capital, Galaxy Digital and Jump Crypto.
Samani was responding to an idea raised by a crypto trader, Ansem, who called for corporate treasury funds to invest in Solana-based DeFi to boost the network's DeFi appeal relative to industry giant Ethereum.
In traditional markets, investor positioning in the S&P 500 looked totally biased bullish. "Sentiment is at extremes. Careful out there," pseudonymous observer The Short Bear said on X. Stay alert!
By Oliver Knight
by Omkar Godbole
Crypto Treasury Companies
Spot BTC ETFs
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Source: Farside Investors
CryptoNone scheduled.MacroNone scheduled.Earnings (Estimates based on FactSet data)None scheduled.
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Governance votes & callsCurve DAO is voting to update donation-enabled Twocrypto contracts, refining donation vesting so unlocked portions persist after burns. Voting ends Sept. 16.UnlocksSept. 15: Starknet (STRK) to unlock 5.98% of its circulating supply worth $17.09 million.Sept. 15: Sei SEI$0.3192 to unlock 1.18% of its circulating supply worth $18.06 million.Token LaunchesSept. 15: OpenLedger (OPENLEDGER) to be listed on Crypto.com.
Curve DAO is voting to update donation-enabled Twocrypto contracts, refining donation vesting so unlocked portions persist after burns. Voting ends Sept. 16.
Sept. 15: Starknet (STRK) to unlock 5.98% of its circulating supply worth $17.09 million.Sept. 15: Sei SEI$0.3192 to unlock 1.18% of its circulating supply worth $18.06 million.
Sept. 15: OpenLedger (OPENLEDGER) to be listed on Crypto.com.
Day 4 of 4: ETHTokyo 2025Day 1 of 7: Budapest Blockchain Week 2025 Sept. 15: TGE Summit 2025 (New York)
Monero’s blockchain suffered its deepest-ever reorg on Monday,...
https://www.coindesk.com/daybook-us/2025/09/15/bitcoin-fails-to-hold-usd116k-as-ogs-rotate-into-ether-crypto-daybook-americas
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