According to @cas_abbe, BTC’s 5–7 year cohort Realized Cap fell from about $14.9B to about $8.5B over the past year, with the decline driven by coins aging into the 7y+ bands rather than being sold, source: @cas_abbe on X, Sep 9, 2025, https://twitter.com/cas_abbe/status/1965281777171177502. The author adds that coins accumulated in 2017–2019 have remained untouched, reflecting battle-tested long-term holders who endured halvings, crashes, FUD, and blow-off tops, source: @cas_abbe on X, Sep 9, 2025. The author concludes this silent migration concentrates supply with holders unlikely to sell and indicates the market floor is stronger than widely assumed, offering a high-conviction on-chain signal for BTC traders, source: @cas_abbe on X, Sep 9, 2025.