Bitcoin OG holders sell Bitcoin again: profit taking or strategic adjustment?
As Bitcoin prices gradually retreat from the recent rally, Bitcoin in the wallets of veteran (OG) holders has become active again, sparking market speculation about the motivations behind these actions, whether it is profit taking or strategic reallocation of assets?
According to data from the analysis company Glassnode, BTC selling has driven the total transaction volume of 1-year to 5-year periods to US$4.02 billion, the highest level since February. This is the fifth selling peak in this bull cycle, driven by OG holders who have held Bitcoin for 3 to 5 years.
Since the beginning of this bull cycle, Bitcoin OG holders have recorded huge trading volumes after each BTC rally. These investors sold a large amount of BTC in March, October, November 2024, and February and May 2025.
In October 2024, the largest selling wave in this cycle, the amount reached US$9.25 billion, led by the group that held the currency for 1 to 2 years. This was followed by March 2024 and February 2025, with $6.11 billion and $5.42 billion sold, respectively, led by the group holding the coins for 2 to 3 years. The fourth largest sell-off period was in November 2024, with an amount of $4.39 billion, driven by the group holding the coins for 3 to 5 years.
The fifth largest sell-off was in the recent May 2025, with an amount of $4.02 billion. Among them, the groups holding the coins for 2 to 3 years and 1 to 2 years sold $1.41 billion and $450 million, respectively. The group holding the coins for 3 to 5 years once again led this spending peak, with an outflow of $2.16 billion.
Although it is not clear whether OG wallets woke up to take profits or reconfigure their holdings, BTC has been in a correction mode for the past 7 days. According to Coingecko data, the cryptocurrency has fallen all the way from its recent all-time high of $111,970. As of this writing, BTC is valued at around $106,121, down 4.6% on a weekly basis and 1.8% on a 24-hour basis.
If the goal of Bitcoin’s old holders is to re-allocate, then BTC could consolidate further in the coming days. However, if they are taking profits, then the asset could see a deeper correction, perhaps even below $106,000.
Do you think Bitcoin’s old holders are selling Bitcoin again, is it profit-taking or a strategic adjustment?See you in the comments section!
