BTC Eyes All-Time High, But Can It Survive the $99K Wall?

BTC Eyes All-Time High: Heavy Selling Ahead as Bitcoin Nears $100K

Given the recent surge in the price of Bitcoin (BTC) beyond $90,000, some holders may be anticipating a run to a new record that would surpass the January record of $109,000. But it might not be so simple to get higher. At about $99,900, the most recent research by Glassnode indicates the possibility of significant selling pressure from specific market participant groupings.

Glassnode Warns: BTC Long-Term Holders Could Trigger $99K Sell-Off

First, those who have been holding tokens for a minimum of 155 days, as determined by Glassnode, are considered long-term holders and can earn up to $99,900. This is consistent with the way they have historically sold at prices that yield paper gains of about 350%.

Historically, LTHs begin distributing more aggressively around a 350% unrealized profit margin, which aligns with a $BTC price of ~$99.9k. As the market nears this level, increased sell-side pressure is likely, requiring strong demand to absorb it,

Glassnode

BTC Resistance Builds: Will $95K–$98K Wallets Derail the $100K Breakout?

Wallets that bought coins early this year, when the biggest cryptocurrency was trading between $95,000 and $98,000, might be a second source of selling pressure. They may be enticed to sell at breakeven or a small profit, at least in part, since they survived the sell-off to $75,000 last month. That is in line with the behavioral components of trading, which indicate that investors tend to hang onto losing positions while taking rapid profits.

A large cluster of coins was acquired between $95k–$98k, 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 $100k.

Glassnode

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