Analysis: Bitcoin OG Whale Selling Pressure Eases Significantly, Shifts to Hodling Instead of Distribution
BlockBeats News, January 14th, CryptoQuant analyst Darkfost stated, "The on-chain activity of Bitcoin OG whales (holders who have not moved their holdings for over 5 years) has shown a significant decline. In this current cycle, OG whale activity was unusually high. The number of UTXOs they spent significantly exceeded the level of the previous cycle."
It is also worth noting that this cycle has provided Bitcoin OG whales with an almost perfect selling window: large institutional funds entering the market, and even government-level buyers joining the market as the cycle progresses. OG Bitcoin whales' selling behavior at phase highs is continually decreasing.
The recent peak of STXO's 90-day average was around 2,300 BTC, but since then, this average has dropped significantly and is currently fluctuating around only 1,000 BTC. This indicates that the selling pace of Bitcoin OG whales has also slowed down. Their highly impactful selling pressure is significantly decreasing, and the current dominant trend leans more towards holding rather than distributing (selling)."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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