Fading OG Selling and Macro Signals Tilt the Odds Bullish for Bitcoin

[AIcash]

Behind the breakout, on-chain data shows a meaningful shift in supply dynamics. Metrics from CryptoQuant tracking coins dormant for more than five years indicate that long-term holder selling has slowed sharply, falling from cycle highs near 2,300 BTC to closer to 1,000 BTC. This cooling distribution aligns with large net Bitcoin outflows from exchanges, reported by Glassnode, signaling a renewed preference for holding over selling.

Macro conditions are adding further tailwinds. Bitcoin’s correlation with gold has turned negative — a setup that historically preceded strong BTC rallies — while global liquidity is expanding as the Federal Reserve winds down quantitative tightening. Bitwise CIO Matt Hougan notes that Bitcoin bull markets often coincide with rising global M2 supply, reinforcing the case that BTC could reclaim $100,000 as support and extend higher in the months ahead.

[nihalsari]

exchange outflows + dormancy metrics lining up feels quietly bullish