On-chain data reveals a significant decline in selling activity by Bitcoin OG whales, according to CryptoQuant analyst Darkfost. These whales, who have held their coins for over five years, previously exhibited high activity levels, with spent UTXOs surpassing previous cycles. However, recent trends show a marked decrease in their selling pace. The 90-day average of spent transaction outputs (STXO) from these whales has dropped from a high of approximately 2,300 BTC to around 1,000 BTC. This shift indicates a move towards holding rather than selling, as large institutional and government-level buyers enter the market, providing a favorable environment for long-term retention.