Bitcoin "OGs" are dumping is a load of bullsh*t.

This chart proves that is a LIE.

We are down ~27% from the highs and fear is peaking, but look at the on-chain reality:

See that purple line? That’s the 7+ year supply. It hasn't flinched. They didn't sell the $124k top, and they aren't selling this $91k floor. The bedrock of the network is UNMOVED.

The selling right now is almost entirely mid-term tourists panic-selling into weakness.

This isn't an exit by the smart money. It’s a shakeout of the weak hands.

Conviction hasn't broken. The supply squeeze is just getting tighter.