Bitcoin's oldest holders just cut selling to 962 coins. That takes pressure off, for now.
The same wallets that sold hard above $100,000 are now sitting closer to break-even. The tape matches the story.
CryptoVibe Desk · bitcoin · on-chain · etfs
- →Bitcoin holders with coins older than five years cut their 90-day average selling to 962 BTC as of June 24.
- →CryptoQuant ties the slowdown to bitcoin trading near $63,000, close to this cohort's highest estimated break-even cost.
- →Watch ETF flows and five-year-holder spending together, because the bullish read breaks if either one turns again.
- Long-term holders → These are wallets that have held bitcoin for years and usually sell less often than newer buyers.
- Spot ETF → A spot ETF is a stock-market fund that holds bitcoin directly and lets investors buy exposure through shares.
Bitcoin's oldest holders slowed selling to 962 BTC. That was the 90-day moving average of coins spent by five-year holders as of June 24, according to CryptoQuant data reported by CoinDesk. It is the lowest level since November 2024.
The number matters because this cohort was not always quiet. CoinDesk reported that these wallets sold more than 142,000 BTC on one peak day during this bull cycle. CryptoQuant identified big sell waves in May 2024, February 2025, and September 2025, each when bitcoin traded above $100,000.
Now the catalyst is named. Bitcoin traded near $62,750 in the June 24 report. That sits close to the roughly $63,000 break-even price CryptoQuant assigns to the most expensive coins this group bought five years ago. If you're holding spot BTC, that is the cleaner read than another chart about vibes.
The bullish part is simple. Older holders are not rushing to sell near their estimated break-even, and spot ETF outflows have slowed over the same two-week stretch. That does not create demand by itself. It removes some supply from the market.
This is not the same as saying OG selling is dead. It means the pressure has paused at a price where forced patience makes sense. The numbers don't add up to a breakout story yet, but they do argue against the panic version.
The number to watch is whether 962 BTC holds. If five-year-holder spending stays low while ETF flows stop bleeding, bitcoin gets a cleaner setup. If either one turns, the market loses its easiest bullish fact.
CryptoQuant's choice to tie five-year-holder selling to a $63,000 break-even level is the useful action here, because it turns an old-wallet narrative into a testable supply story.
By mid-July, watch whether the five-year-holder 90-day spent average stays below 1,500 BTC while weekly spot ETF flows are flat or positive.
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