Bitcoin rose above $97,000 for the first time since mid-November as the pace of selling by long-term holders slowed.
According to on-chain analytics platform CryptoQuant, OG Bitcoin activity has declined sharply, suggesting that this class of Bitcoin holders is slowing down their Bitcoin sales.
Bitcoin OGs refer to early adopters or investors. In this scenario, CryptoQuant classifies Bitcoin OG as a holder whose coin has been dormant for more than five years. This includes the Satoshi-era Bitcoin Whale, which refers to the period from 2010 to 2011 when Bitcoin’s pseudonymous creator Satoshi Nakamoto was still active in the crypto community.
Initially, a 7-year threshold was used, but the relatively young age of Bitcoin (launched in January 2009) makes 5 years a more reliable benchmark when comparing cycles.
OG Bitcoin activity plummeted
“This suggests that OG is also slowing sales…The general trend now seems to be leaning more towards holding than distributing.” – via @Darkfost_Coc pic.twitter.com/Ds6NRnpJpm
— CryptoQuant.com (@cryptoquant_com) January 15, 2026
According to CryptoQuant analysis, UTXO spent by OG holders is decreasing. CryptoQuant noted that Bitcoin OG has been very active during this cycle, with the amount of UTXOs used significantly exceeding previous cycles.
Bitcoin’s six-digit rally was buoyed by its all-time high of over $126,000 last October. BTC Due to institutional adoption, Bitcoin OG provided a perfect opportunity to sell this cycle.
However, as the cycle progresses, OG’s sales at the local top have steadily declined. The last STXO peak reached a 90-day average of about 2,300 BTC. Since then, this average has dropped significantly and is now around 1,000. BTC.
Bitcoin hits new high in 2 months
Bitcoin soared above $95,000 and hit a two-month high of $97,963 on Wednesday. Bitcoin fell on Wednesday after reaching an intraday high of $97,162, following a four-day rally from Sunday’s low of $90,109.
On-chain analytics platform Santiment said there was a net loss of 47,244 holders in the past three days, indicating retailers were dropping out due to FUD and impatience. The rebound in Bitcoin prices is also supported by a seven-month low. BTC Supply on exchanges.
Considering the rally above $95,000, Bitcoin’s next target is now $100,000. This level has capped the price for most of the past two months, easing selling pressure from Bitcoin OG and providing the basis for continued upside.
