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The Daily Hodl 2025-05-03 07:04:29

Analytics Firm Issues Bitcoin Alert, Says BTC Approaching Area of Heavy Sell-Side Pressure – Here Are the Targets

Analytics Firm Issues Bitcoin Alert, Says BTC Approaching Area of Heavy Sell-Side Pressure – Here Are the Targets

Crypto analytics firm Glassnode is warning that Bitcoin ( BTC ) may soon run up against a strong resistance level. The firm says on the social media platform X that long-term holders (LTHs) of Bitcoin – entities that have kept their coins inactive for at least 155 days – may start selling BTC near the $100,000 level based on the unrealized profit margin metric, potentially causing a market correction. “Historically, LTHs begin distributing more aggressively around a 350% unrealized profit margin, which aligns with a BTC price of ~$99,900. As the market nears this level, increased sell-side pressure is likely, requiring strong demand to absorb it.” Source: Glassnode/X Glassnode also says that LTHs are gobbling up Bitcoin since it broke into the $90,000 range late last month, suggesting it may soon hit the $99,000 level. “Long-Term Holders continue to accumulate, with +254,000 BTC aging beyond 155 days since the recent low – many bought above $95,000. Spending remains light, signaling renewed confidence and a lack of interest in de-risking at current prices.” Source: Glassnode/X Lastly, the analytics firm says that if Bitcoin is able to break through the $100,000 resistance level, the flagship crypto asset will likely hit new all-time highs. “A large cluster of coins was acquired between $95,000-$98,000, meaning some BTC holders may exit at breakeven. This, combined with rising LTH profits, creates a key resistance zone. A clean breakout could open the path to price discovery above $100,000.” Bitcoin is trading for $96,675 at time of writing, flat on the day. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Analytics Firm Issues Bitcoin Alert, Says BTC Approaching Area of Heavy Sell-Side Pressure – Here Are the Targets appeared first on The Daily Hodl .

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