#BITCOIN $BTC #OG BITCOIN#Write2Earn
On-chain data shows OG Bitcoin holders (coins dormant over five years) have sharply reduced UTXO spending since recent cycle highs.
The 90-day average of OG BTC spent has fallen from about 2,300 BTC to near 1,000 BTC, easing sell-side pressure.
The slowdown suggests a shift from distribution to holding, even as institutional and government buyers remain active.
Bitcoin on-chain data indicates a notable slowdown in selling activity among the network’s oldest holders, suggesting a shift in market structure as the current cycle matures. Analysis of UTXOs spent by so-called “OG” holders’ wallets whose coins have remained dormant for more than five years shows a sharp decline in distribution compared to earlier phases of the cycle.
The data, smoothed using a 90-day moving average to reduce short-term noise, highlights a clear change in behaviour from long-term participants who were previously among the most active sellers during market rallies.
