Bitcoin Long-Term Holder Selling Hits 19-Month Low Amid Cycle Signals
Veteran Bitcoin holders are selling at their lowest rate in 19 months, while cycle indicators point to September as a potential market bottom.
Seasoned Bitcoin holders are pulling back from selling at a pace not seen in nearly a year and a half, a signal that longtime investors may be bracing for — or already anticipating — a significant price recovery. Spending activity among multi-year Bitcoin holders has dropped to a 19-month low, according to new data highlighted by Cointelegraph, suggesting reduced distribution pressure on the market at a critical juncture.
The decline in long-term holder selling is widely watched by crypto analysts because these participants — often called "OG" holders — tend to be among the most informed and patient in the market. When they stop spending their coins, it typically signals a belief that current prices are too low to justify selling, which can reduce downward pressure on Bitcoin's spot price and set the stage for accumulation phases.
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Adding to the bullish undertone, market cycle models tied to Bitcoin's halving schedule are now flagging a specific timeframe worth watching: September. According to the halving-based indicators cited in the report, that month could represent a new market bottom date — meaning the current period of weakness may be approaching its floor before the next major upward leg historically associated with post-halving cycles.
The convergence of reduced OG selling and cycle-model signals is drawing attention from traders who track on-chain data as a leading indicator of Bitcoin's medium-term trajectory. While no model guarantees outcomes, the alignment of these two independent data points has historically carried weight in identifying turning points in Bitcoin's multi-year market structure.
Continue reading at Cointelegraph.
