Express
Analysis: Bitcoin OG Whales' Selling Activity Slows Down, Shifts to Holding Instead of Distributing
Summary: According to CryptoQuant analyst Darkfost, the on-chain activity of Bitcoin OG whales (holders who have not moved their coins for over 5 years) has significantly decreased, after showing unusually high activity in the previous cycle. They spent a significant amount of UTXOs compared to the previous cycle. It is also worth noting that this cycle ...
According to CryptoQuant analyst Darkfost, the on-chain activity of Bitcoin OG whales (holders who have not moved their coins for over 5 years) has significantly decreased, after showing unusually high activity in the previous cycle. They spent a significant amount of UTXOs compared to the previous cycle. It is also worth noting that this cycle has provided Bitcoin OG whales with almost a perfect selling window: large institutional funds entering, and even government-level buyers entering the market. As the cycle progresses, the selling behavior of Bitcoin OG whales at phase highs continues to decrease. The recent STXO peak 90-day average was around 2300 BTC, but has since dropped significantly, currently fluctuating around 1,000 BTC. This indicates that the selling pace of Bitcoin OG whales has also slowed down. The impactful selling pressure is significantly decreasing, with the current dominant trend leaning more towards holding rather than distributing.
Tags:
Link: Analysis: Bitcoin OG Whales' Selling Activity Slows Down, Shifts to Holding Instead of Distributing [Copy]
