Analysis: Bitcoin OG Selling Drops to Lowest Level in Nearly Two Years, Market Bottom Signs Multiply

On-chain data shows that selling activity by Bitcoin long-term holders (commonly known as "OGs") who have held coins for over five years has plummeted to its lowest level in nearly two years. According to CryptoQuant data, the 90-day average daily selling volume of these veteran investors has dropped to 962 BTC, the lowest since November 2024, falling below the 1,000 BTC threshold for the first time. This shift is significant. Since the start of the current bull market in early 2023, selling pressure from the OG cohort has reached an all-time high for Bitcoin, with massive sell-off peaks in May 2024, February 2025, and September 2025. Daily selling volumes once exceeded 142,000 BTC, exerting notable downward pressure on prices and considered one of the key reasons why Bitcoin struggled to sustain gains after breaking through the $100,000 mark last year. CryptoQuant analysts note that this slowdown in selling is no coincidence: Bitcoin’s current price of around $63,000 is nearly at the break-even point of the most expensive coins likely purchased by OGs five years ago. Holding rather than selling is now the rational choice, meaning a major core selling pressure that had been weighing on prices is substantially easing. Meanwhile, net outflows from spot ETFs have also narrowed significantly over the past two weeks, aligning with the slowdown in OG selling. Multiple contrarian indicators collectively point to a potential market bottom. As of press time, Bitcoin is trading at approximately $62,776, with little change over the past 24 hours.