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Who's selling their bitcoin? Well...if we look on chain, most of the movement over the past year has come from 1-5 year old coins.

Short term HODLers: 5.82M BTC -> 7.54M BTC

Medium term HODLers: 7.64M BTC -> 6.22M BTC

Long term HODLers: 6.12M BTC -> 6.07M BTC https://m.primal.net/PJrD.mp4

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Discussion

Julian 10mo ago

so no OGs huh

Wicked 10mo ago

Only a small fraction seems to have come from coins older than 5 years...so if OGs are selling, they're selling their newer coins and continuing to HODL their older ones.