Bitcoin holders who have held for over five years, the OG community, have reduced their selling volume to the lowest since November 2024, with the 90-day average spending falling below 1,000 coins for the first time.

This number itself isn't small, but the trend is more important than the absolute amount—core selling pressure is weakening.
The slowdown in OG selling is set against the backdrop of the current $63,000 price, which is close to the breakeven point of their purchase chips from five years ago.
Holding rather than selling is more rational, meaning this part of the supply is temporarily locked up.
Net outflows from spot ETFs are also narrowing, creating a resonance between the two, and signals of market bottom are increasing.
But the other side of the coin is: exhausted selling pressure does not mean buying interest is surging.
Wintermute points out liquidity drying up, a lack of new ETF buying support, and a short-term potential drop to $59,000.
OG not selling does not mean prices will rise; it just suggests the downside may be limited.
What is more worth warning about is that if this “holding without selling” state persists too long, it could evolve into a liquidity trap—prices stagnate within a narrow range, with both bulls and bears waiting for an external variable to break the deadlock.
The $60,000 put wall around Friday’s options expiration is a key short-term battleground.
OG’s silence is a good thing, but the market needs new buying power to break out of the bottom.
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