Bitcoin Sell-Off Risk Grows as Price Nears $100K Profit Zone

Bitcoin may be approaching a major test of market strength, according to new insights from analytics firm Glassnode.

The firm points to a growing risk of sell pressure from long-term holders as BTC edges closer to the $100,000 mark.

These long-term holders—investors who’ve kept their coins untouched for at least 155 days—typically begin offloading assets once their unrealized profits reach a threshold. Historically, that point has been around a 350% gain, which now corresponds to a BTC price just shy of $100K. As Bitcoin hovers in the $90,000s, Glassnode warns this level could act as significant resistance unless buying momentum ramps up to meet the potential wave of profit-taking.

At the same time, data shows long-term holders have been actively accumulating during Bitcoin’s recent climb. Over 254,000 BTC have aged into long-term status since the recent market bottom, with many of those coins purchased at prices above $95,000—signaling confidence among large holders and little indication of selling so far.

READ MORE:

Analyst Who Called 2022 Crash Warns of $60K Bitcoin Drop

However, with a dense cluster of recent purchases in the $95,000–$98,000 range, some investors may look to exit positions if prices return to their entry points. If Bitcoin can overcome this wall of supply and decisively move past $100,000, it could pave the way for a new round of price discovery and fresh all-time highs.

Alexander Stefanov