Summary
- It was stated that for Bitcoin to stably surpass $100,000, a reduction in sales by long-term holders is necessary.
- Analyst James Van Straten assessed that long-term holders have sold 843,113 BTC since September.
- Short-term holders accumulated 1,081,633 BTC during the same period, indicating that price increase is difficult despite selling pressure.
There is a claim that for Bitcoin to stably surpass $100,000, the selling by long-term holders (those holding for more than 155 days) needs to decrease.
On the 12th (local time), James Van Straten, an analyst at CoinDesk, stated, "Currently, Bitcoin is fluctuating around the major psychological price level of $100,000," and added, "For Bitcoin to stably surpass $100,000, the selling pressure from long-term holders needs to decrease." He further noted, "Since September, long-term holders have sold 843,113 BTC," and assessed that despite the more than doubling of Bitcoin's futures/spot trading volume, the price has not risen due to selling pressure.
Meanwhile, during the same period, short-term holders have accumulated 1,081,633 BTC.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
