Old Bitcoin selling 👀 is declining. This chart is important.

It tracks the spending of #Bitcoin by holders of old coins — coins that have been dormant for more than 5 years.

At the beginning of this cycle, old coin holders were very active. The selling pressure from long-term holders exceeded that of the previous cycle, which makes sense. Institutions and governments entered strongly, and liquidity was available. That was the most suitable period to sell large quantities.

But look at what is happening now.

The selling of old coins at its local highs has started to decline.

The last peak price for ST.. XO was around 2300 #BTC ( 90-day average ).

Today, it is approaching 1000 Bitcoin.

The group with the shortest time preference is declining. Simply put, the supply no longer appears sufficient to cap the highs in the same way.

When the selling of old coins slows down while demand remains steady, the supply shrinks rapidly, and then movements usually surprise investors.

The decline in selling pressure on old coins, with more of them remaining in the market. This is a positive situation that most investors will only notice when the price forces them to.

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