Bitcoin's "OG" investors have significantly reduced their selling activity, reaching the lowest levels in nearly two years.
By Omkar Godbole Jun 24, 2026, 6:39 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Bitcoin 'OGs' have reduced their selling activity. (Nick Fewings/Unsplash)SummaryShow- Bitcoin "OGs" have reduced their selling activity to the lowest levels in almost two years.
- On-chain data indicates that the significant profit-taking seen in 2024 and 2025 has subsided.
- With diminished selling pressure from OGs and ETFs, Bitcoin might be establishing a much-needed support level.
Long-term holders of Bitcoin BTC$62,694.88 appear to have paused their cashing out.
These "OGs," or original investors who have maintained their holdings for at least five years, have seen a notable decrease in their selling activities. The 90-day moving average for coins sold by these long-term investors has fallen to just 962 BTC, marking the lowest point since late 2024, as per data from CryptoQuant.
"Currently, the 90-day average of BTC sold by these OGs has dipped below 1,000, resting at 962, its lowest since November 2024. At existing price levels, these investors are opting to hold rather than sell, which is helping reduce selling pressure," stated a CryptoQuant analyst on X.
Understanding this trend requires examining the spending behaviors of these "Original Gangsters" over the past couple of years. The bullish trend that began in early 2023 has witnessed unprecedented selling by OGs in Bitcoin's history. Selling was particularly aggressive last year when BTC surpassed $100,000.
Each price increase prompted these long-term holders to sell in substantial waves, creating significant peaks in May 2024, February 2025, and September 2025.
Analysts monitor this activity using a metric known as spent transaction outputs (STXO), which essentially tracks BTC movements on the blockchain. When an OG transfers coins after a lengthy holding period, it often indicates an impending liquidation or profit-taking.
During the peak of the bullish market, daily sell-offs sometimes exceeded 142,000 BTC, causing significant market fluctuations.
However, this trend has shifted.
According to CryptoQuant analysts, the recent slowdown in OG selling coincides with Bitcoin trading around $63,000, which could represent the break-even point for the highest-priced coins these investors bought five years ago.
By choosing to hold at these levels, OGs are effectively alleviating a major source of selling pressure that had previously limited BTC's gains above $100,000 last year.
In essence, sell-side pressures are diminishing just as some contrary indicators suggest a market bottom. It is also worth noting that outflows from spot ETFs have decreased over the past two weeks, which is a positive sign for the cryptocurrency market.
As of the latest update, Bitcoin was trading around $62,750, showing little change over a 24-hour period.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
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In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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