BlockBeats news: On January 14, CryptoQuant analyst Darkfost stated, "On-chain activity from Bitcoin OG whales (holders who have held their coins for over five years without movement) has shown a significant decline. During this cycle, the activity level of OG whales was abnormally high, with the number of UTXOs they spent clearly exceeding the level seen in the previous cycle."
It is also worth noting that this cycle has provided almost a perfect selling window for Bitcoin OG whales: large institutional capital has entered the market, and even government-level buyers have joined as the cycle progresses. The selling activities of Bitcoin OG whales at阶段性 high points are gradually decreasing.
The 90-day average of the most recent STXO high was approximately 2,300 BTC, but this average has significantly declined since then, currently fluctuating around 1,000 BTC. This indicates that the selling pace of Bitcoin OG whales has also slowed down. Their highly impactful selling pressure is clearly decreasing, and the current dominant trend is more oriented toward holding rather than distribution (selling).