Analysis: Bitcoin OG whales' selling has significantly slowed down, shifting towards holding rather than distributing

BlockBeats News, January 14 — CryptoQuant analyst Darkfost stated, "The on-chain activity of Bitcoin OG whales (holders who have not moved their coins for over 5 years) has shown a significant decline. During this cycle, OGs were unusually active. The number of UTXOs they spent was significantly higher than in the previous cycle.

It is also worth noting that this cycle has provided an almost perfect selling window for Bitcoin OG whales: large institutional funds entered the market, and even government-level buyers participated. As the cycle progresses, the selling activity of Bitcoin OG whales at cyclical highs has been steadily decreasing.

The most recent 90-day moving average of STXO peaks is about 2,300 BTC, but this average has since fallen sharply and is currently fluctuating around 1,000 BTC. This indicates that the selling pace of Bitcoin OG whales has also slowed. Their highly impactful selling pressure is clearly diminishing, and the current dominant trend leans more towards holding rather than distributing (selling).”