BlockBeats news: On January 14, analyst Darkfost, based on the 90-day moving average graph of UTXO activity from Bitcoin OG holders (holders who have owned Bitcoin for over five years), concluded that this market cycle presents an excellent opportunity for OG holders to sell, driven by the influx of major institutional investors and even government buyers. However, as the cycle progresses, the volume of sales from OG holders during native market peaks has been steadily declining.
The last time STXO reached a peak, the 90-day average was approximately 2,300 BTC. Since then, this average has dropped significantly and is now fluctuating around 1,000 BTC. This suggests that OGs (original holders) have also slowed down their distribution pace. The previously evident massive selling pressure is clearly easing, and the current trend appears to be more oriented toward holding rather than distribution.