Bitcoin’s most seasoned investors-the 'OGs' who have held coins for at least five years-have sharply reduced their selling.
The 90-day moving average of coins spent by these long-term holders has fallen to just 962 BTC, the lowest since November 2024, according to CryptoQuant. The massive profit-taking waves that rocked the market in 2024 and 2025, sometimes exceeding 142,000 BTC in a single day, have dried up.
Now trading around $63,000-the break-even point for the most expensive coins these OGs could have purchased five years ago-they are choosing to hold. This retreat removes a significant drag that had capped bitcoin’s rise above $100,000 last year. With outflows from spot ETFs also slowing, the market may be finding a much-needed structural floor.
Bitcoin changed hands near $62,750 at the time of writing.