Bitcoin 'OG' Sell-Offs Plummet to Two-Year Low as Market Bottom Looms

Long-term Bitcoin holders, often referred to as 'OGs,' have recently reduced their selling activity to a nearly two-year low. According to on-chain data from CryptoQuant, these investors have spent an average of just 962 BTC over the past 90 days, down significantly from previous highs.

This slowdown in selling is significant because OGs have historically been major contributors to Bitcoin's price volatility. In fact, their sell-offs exceeded 142,000 BTC on some days during the current bull market, causing notable downward pressure on prices.

However, with Bitcoin currently trading at around $63,000, which aligns closely with the breakeven point for the most expensive coins likely acquired by OGs five years ago, it's becoming increasingly rational for them to hold rather than sell. This shift in behavior is a major signal that the market may be approaching a potential bottom.