coinpedia 2025-06-12 06:31:38

Bitcoin Sell-off to Stop After $130K Breakout, Says Bitwise CEO

The post Bitcoin Sell-off to Stop After $130K Breakout, Says Bitwise CEO appeared first on Coinpedia Fintech News Bitcoin, the world’s largest cryptocurrency, might be gearing up for a major shift, not just in price, but in how people treat it. Recently, Bitwise CEO Hunter Horsley said that once bitcoin hits $130,000, BTC holders will stop selling and start locking in for the long term. Let’s see why he believes so! Bitcoin Selling Dries Up Above $130K In a recent tweet post, Bitwise CEO Hunter Horsley shared a key insight about Bitcoin’s future. He believes that once Bitcoin crosses into the $130K to $150K range, most holders won’t want to sell. At the moment, Bitcoin is trading near $107K. Some older wallets — especially those holding since the early days are taking profits, which makes sense given the massive gains. But Horsley points out that this selling pressure could fade soon. Once BTC breaks past its all-time highs, more holders may start seeing it as long-term wealth. BTC Is Leaving Exchanges On-chain data suggest that a growing number of Bitcoins are being withdrawn from exchanges and moved into cold storage. Since early 2025, exchange balances have dropped 14%, down to just 2.5 million BTC, the lowest since August 2022. Meanwhile, institutions like BlackRock, Fidelity, MicroStrategy, and Metaplanet are holding billions in Bitcoin. These entities aren’t short-term traders. They’re thinking in years, not months. Borrowing Instead of Selling As Bitcoin’s value grows, so does the number of lending platforms offering BTC-backed loans. According to Bitbo, long-term holders (those holding for over 155 days) are up around 215% , with an average buy price of $34,414. Horsley also noted that instead of selling, these holders might borrow against their Bitcoin, keeping their assets while still unlocking value. That means even less Bitcoin will be available for buyers.