Mark RadarMARK RADAR
About
中 EN
Sign in
Event File CRYPTO Bitcoin

Bitcoin OG Selling Eases as Dormant Supply Hits Four-Year Low

1 reports · First detected 2026-07-26 · Last active 2026-07-26

Dormant Bitcoin movement tracks coins that have remained untouched for extended periods before being transferred again. A related measure, coin days destroyed, assigns greater weight to older holdings. Investors monitor both indicators for signs of profit-taking by long-term holders, because a rise in activity among early adopters can foreshadow heavier market supply and selling pressure, while subdued movement suggests those investors are holding rather than distributing their BTC.

Data shared on July 26, 2026, by Alex Thorn, Galaxy’s head of firmwide research, showed dormant BTC movement fell in the second quarter of 2026 to its lowest level since the third quarter of 2022. Coin days destroyed also declined. Thorn said earlier spikes reflected profit-taking by Bitcoin OGs, echoing behavior seen during the 2017 bull market. The figures indicate selling has slowed after elevated distribution in 2024 and 2025; no dollar amount was disclosed.

All Coverage

1 original reports
COINTELEGRAPH.COM 2026-07-26
Bitcoin OG selling eases as dormant BTC movement hits 4-year low: Thorn

The Backstory

The history behind this event
Long-Term Bitcoin Holder Selling Falls to 19-Month Low2026-06-24 · 3 reports · similarity 0.83

Bitcoin “OGs” generally refers to early investors who have held the cryptocurrency for more than five years, and movements of their coins are often seen as a sign of profit-taking. CryptoQuant tracks these holdings through spent transaction outputs, or STXOs. The bull cycle that began in early 2023 saw the most aggressive selling on record, making the retreat in selling pressure important to the market’s ability to establish structural support.

CryptoQuant data showed that as of June 23, 2026, the 90-day average amount spent by OG holders had fallen to 962 BTC, its lowest since November 2024 and a 19-month low. That was sharply below the May 2024 peak of 3,860 BTC. Using the halving cycle, analyst LP calculated that July 6, 2026, was day 826 and said the window for a market bottom could fall in early September.

Mark Radar｜MARK RADAR
Past Issues・by MarkReadFintech
All times are in Taipei time (GMT+8)