People have discussed how there's been a lot of bitcoin selling among 5+ year hodlers.

What often gets left out of the discussion is that over time, more and more hodlers naturally age into being 5+ year hodlers. So, some long-term hodlers are selling, but that's part of more and more people becoming long-term hodlers.

At 30%, the percentage of bitcoin that has been unmoved onchain for 5+ years is near its peak level.