Bitcoin selling by OG whales (early large holders) and long-term miners amounts to a broad transfer of coins to U.S. traditional financial institutions, investors and ETFs, CryptoQuant CEO Ki Young Ju said on X, according to PANews on June 4. He said deeper liquidity and stronger demand from those buyers could help underpin the next rally, even as the shift may dilute cypherpunk values. The remarks point to a changing Bitcoin market structure, with supply moving from early adopters and miners toward more institutional ownership channels.