Long-Time Bitcoin Holders Slow Down Their Selling, Data Shows

Movement of old, untouched Bitcoin fell to a 4-year low, hinting early holders are keeping their coins instead of cashing out.

Long-time Bitcoin holders appear to be selling less, according to new data from Galaxy, a major crypto research firm.

The report focuses on "dormant Bitcoin" — coins that have sat untouched in a digital wallet for a long time before being moved or spent again. When these old coins suddenly start moving, it often means their owners are cashing out (selling for profit).

Here are the key facts:

Dormant Bitcoin activity in the second quarter fell to its lowest level since Q3 2022 (the July–September period of 2022).
A related measure called "coin days destroyed" — which pays extra attention to the oldest coins being moved — showed a similar drop.
Earlier spikes in activity were caused by "OGs taking profit." ("OGs" means "original gangsters" — slang for the earliest and most experienced Bitcoin owners.)

Why does this matter? Analysts watch old coins closely. When long-time holders move their coins, it usually signals selling pressure — more Bitcoin being sold, which can push the price down. When these coins stay still, it suggests owners are holding on rather than selling, which is generally seen as a healthier sign for the market.

Alex Thorn, Galaxy's head of firmwide research, compared the recent behavior to Bitcoin's 2017 bull run (a period when prices rose sharply). Back then, early holders also sold heavily during price spikes. He noted that after heavy selling in 2024 and 2025, these long-term investors now seem to be slowing down.

In simple terms: the people who have held Bitcoin the longest are choosing to keep their coins instead of selling them. For everyday observers, this can be a small clue that experienced investors feel comfortable holding on for now — though it's just one signal among many and doesn't guarantee where prices go next.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/markets/bitcoin-og-dormant-btc-movement-thorn?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound