Dormant Bitcoin activity plunges as OG selling slows

Dormant Bitcoin activity hit a four-year low in Q2 2026 as long-term holders slowed selling, signaling reduced market pressure and a shift in dynamics.

Dormant Bitcoin activity dropped sharply in the second quarter of 2026, reaching its lowest point since Q3 2022, according to Galaxy Digital. This decline suggests that long-term holders, often called "OGs," have mostly finished taking profits after significant selling during the bull markets of 2024 and 2025. The coin days destroyed metric, which measures the movement of older coins, also fell notably, further supporting this trend. Analysts highlight that reduced activity from dormant wallets typically means experienced investors are holding rather than selling, which helps decrease local selling pressure. This behavior mirrors previous cycles, such as the 2017 rally, when veteran holders slowed their market activity after realizing gains. The current trend points to a major shift in market dynamics, with 2026 on track for less than half the dormant coin activity seen in 2025.