Bitcoin OG selling pressure eases, on-chain data reveals breakout signals

PriceOracleFairy · 2026-01-17T13:20:11+00:00

Recent on-chain data shows that the selling pressure from early Bitcoin holders has eased, with holders adopting a more cautious or hoarding attitude. Meanwhile, the net outflow from Bitcoin exchanges has reached a new high, indicating a potential upward trend. On the technical side, multiple indicators show an upward breakout, with a target price approaching $107,000. Additionally, the negative correlation between Bitcoin and gold predicts a potential 56% increase over the next two months.

PriceOracleFairy

2026-01-17 13:20:11

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【Crypto World】Recent on-chain data reveals an interesting signal: the selling pressure from early Bitcoin holders is clearly decreasing.

According to on-chain analysis, the 90-day moving average of spent UTXOs has dropped from the previous cycle high of about 2,300 BTC to around 1,000 BTC. What does this indicate? Holders’ sentiment has shifted from selling pressure to waiting or even accumulating.

At the same time, net outflows from Bitcoin exchanges have hit a new high since December 2024, indicating that more people are moving coins into their personal wallets. This behavior usually signals an brewing upward trend.

On the technical side, Bitcoin has entered a clear breakout phase. Multiple indicators point in the same direction—upward. Market analysis generally targets a price of $107,000.

There’s also a more interesting macro signal: the correlation between Bitcoin and gold has turned negative. Historical data shows that whenever this happens, BTC tends to rise an average of 56% over the next two months. That number still sounds quite attractive.

BTC-0,28%

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ContractExplorer

· 7h ago

Yeah, OGs are starting to accumulate now. This signal does seem to have some substance. Hold on, is there a chance for 170,000... The selling pressure dropped from 23,000 to 10,000. This shift is quite quick. The crypto world is like this—quick to turn on each other. As for exchange net outflows, it's always like this—preparing for a hot moment. Let's wait and see. Bitcoin negatively correlated with gold? What kind of macro event is this... Feels like this time is different. Is it really about to take off?

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FantasyGuardian

· 15h ago

Is the easing of selling pressure really a good sign? It feels like I hear this explanation every month.

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ZenChainWalker

· 15h ago

The easing of selling pressure, to put it simply, means that big players are also starting to lose patience and are no longer dumping the market. Are OGs really holding onto their positions? If so, I dare to add to my holdings. This signal is quite clear. 107,000? Well, I can't expect too much, but considering how strong the breakout signal is... I'm a bit hopeful. The outflow from exchanges hitting new highs every time, and then it just goes up. Wait, is BTC negatively correlated with gold? So this time, no more bottom-fishing in gold? Switching to embrace digital assets?

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MintMaster

· 15h ago

Oops, the OGs have finally settled down. Are they not selling this time? Then us retail investors better seize the opportunity.

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AirdropHunterWang

· 15h ago

Halving sell pressure? This time really feels different, like we're on the verge of breaking new highs.

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