Analysis: The selling pressure from Bitcoin OGs has significantly cooled down, and the market is shifting towards long-term holding signals

According to analyst Darkfost, based on the 90-day moving average graph of Bitcoin OG holders (those who have held Bitcoin for over 5 years) UTXO dynamics, this cycle has provided an excellent selling opportunity for Bitcoin OG holders, thanks to the influx of major institutional investors and even government buyers. However, as the cycle progresses, the sales volume of OGs during the native market peak has been steadily declining.

The last peak for STXO was around a 90-day average of approximately 2,300 BTC. Since then, this average has significantly decreased and is now fluctuating around 1,000 BTC. This indicates that OGs have also slowed down their distribution pace. Their previously significant selling pressure has clearly eased, and the current trend seems to favor holding rather than distributing.