Women's oxytocin rises with each orgasm, bonding them to a partner. Men's vasopressin drops after first-date sex, shifting them toward testosterone instead of bonding. Waiting lets his vasopressin and oxytocin build first, so he's already attached when sex happens.
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One of the things I think is like so, so important for dating, as a woman is sexually interested and liking the guy and enjoying the dating, her oxytocin levels is like slowly, slowly starting to go up. When they start actually having sex, she's going to be releasing higher levels of oxytocin every time she orgasms, and that's going to make her bond to the guy much more. If you have sex on the first date, the guy's vasopressin levels will plummet straight away, and all he'll be interested in is testosterone. If you make him wait, his vasopressin and oxytocin levels go up, and then when you do actually have sex, he's already bonded, so it's more likely to become part of a loving relationship. Wow.