[Analysis] "Bitcoin (BTC) Long-term Holders May Sell if Price Surpasses $99,900"

Minseung Kang

Summary

It was stated that if the price of Bitcoin reaches $99,900, the selling pressure from long-term holders may increase.
Glassnode diagnosed that if Bitcoin reaches that price, the average unrealized profit of long-term holders will reach 350%.
The possibility of selling by short-term investors in the $95,000 to $98,000 range was also pointed out.

An analysis has emerged suggesting that if the price of Bitcoin (BTC) reaches around $99,900, there could be significant selling pressure from long-term holders (LTH).

According to Cointelegraph, a cryptocurrency-focused media outlet, on the 2nd, on-chain analytics firm Glassnode stated in a recent research report that "if Bitcoin reaches $99,900, the average unrealized profit of long-term holders will be approximately 350%," and "considering past cases, there is a high likelihood of profit-taking sell-offs being triggered."

The report also pointed out the possibility of selling by short-term investors (STH) who hold break-even positions in the $95,000 to $98,000 range.

Glassnode analyzed that "after a 'structural reset' where market overheating is resolved, it seems to have entered a supply-demand balance zone," and "the holding stance and unrealized profit and loss indicators of long-term holders suggest that a wait-and-see approach may continue for the time being."

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