Data compiled by Woofun AI shows that Bitcoin investors holding assets for over five years have significantly reduced their selling activity, with the 90-day average volume declining to 962 BTC. This figure represents the lowest level recorded since November 2024, marking a distinct shift from the aggressive distribution seen during previous market peaks.

During the bull cycle initiated in early 2023, these long-term holders executed record-breaking sales, particularly during price surges in May 2024, February 2025, and September 2025, where single-day volumes exceeded 142,000 BTC. With Bitcoin currently trading near $63,000, a level close to the breakeven point for this cohort, their decision to hold rather than sell has effectively mitigated downward market pressure.

Concurrently, the deceleration of spot ETF outflows over the past two weeks further corroborates the trend of diminishing selling pressure.