Bitcoin OG selling hits 19-month low, signals market shift

Bitcoin OG holders’ selling has dropped to a 19-month low, with the 90-day average at 962 BTC. This signals reduced selling pressure and hints at possible market stabilization.

Recent reports indicate a sharp decline in Bitcoin selling activity among long-term holders, often called "OGs"—those who have held Bitcoin for over five years. According to CryptoQuant, the 90-day average of Bitcoin spent by these holders has dropped to 962 BTC, the lowest level since November 2024. This reduced selling pressure follows a period of heavy distribution during earlier market rallies, when OGs sold significant amounts of Bitcoin. The current trend suggests these long-term holders are now more confident in holding their assets, even as prices remain near their highest cost basis. Analysts observe that while short-term holders are incurring losses and reducing their positions, long-term holders are staying firm. This shift may signal changing market dynamics and potential stabilization. Some indicators even suggest a possible market bottom in September, aligning with the slowdown in OG selling.