Bitcoin · CoinDesk
Bitcoin’s ‘OG’ investors have slowed selling in a bullish sign for the market
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Long-term bitcoin BTC $ 62,540.26 holders appear to be done cashing out for now.
Key facts
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- Today, the 90-day average of BTC spent by these OGs has dropped below 1 000, sitting at 962, its lowest level since November 2024
- As of this writing, bitcoin changed hands near $62,750, largely unchanged on a 24-hour basis
- Every time the price surged, these long-term holders hit the "sell" button in massive waves, creating huge "peaks" in May 2024, February 2025, and September 2025
Summary
Bitcoin "OGs" have slashed their selling activity to the lowest levels in nearly two years. On-chain "spent transaction" data shows that the massive waves of profit-taking that rocked the market in 2024 and 2025 are drying up. With selling pressure on-chain OGs and ETFs easing, bitcoin may be finding a much-needed structural floor. These "OGs", the legendary investors who have held their coins for at least five years, have hit a significant lull in their selling activity.