Bitcoin Under Selling Pressure at $99,900—Long-Term Holders Aiming for Profits

# Bitcoin Faces Increased Sell-Side Pressure as Price Nears $99,900: Glassnode Analysis On-chain analytics firm Glassnode has revealed in a recent report that Bitcoin (BTC) could face heightened sell-side pressure as its price approaches the $99,900 mark. Historically, long-term holders (LTHs) have shown a propensity to sell their assets when their unrealized profits hit approximately 350%. Glassnode identifies LTHs as wallet holders who have kept their Bitcoin for over 155 days. According to the firm’s analysis, these long-term investors consistently initiate sell-offs around the 350% unrealized profit zone. The report noted, “In the past, LTHs have liquidated their holdings after achieving about 350% in unrealized profits. With Bitcoin nearing this price range, it’s likely that long-term holders will begin to sell again.” Glassnode also underscored this trend in a tweet, predicting increased selling pressure from LTHs as Bitcoin nears $99,900, which could require substantial demand from buyers to absorb the sell-offs. > “Historically, LTHs start distributing more aggressively around a 350% unrealized profit margin, aligning with a $BTC price of ~$99.9k. As the market approaches this level, increased sell-side pressure is probable, demanding strong buyer demand to offset it.” — Glassnode (@glassnode), May 2, 2025 # Additional Pressure from Recent Buyers Another factor contributing to potential selling pressure comes from investors who bought Bitcoin earlier this year at prices between $95,000 and $98,000. These investors experienced the recent market correction, which saw Bitcoin drop to $75,000 last month, and are now nearing their break-even points. Glassnode observed that, while investors often hold onto losing positions for long durations, they tend to sell quickly once their holdings return to profitability. The report highlighted, “Significant volumes of Bitcoin were acquired within this price range. Combined with profit-taking by long-term holders, this zone could act as a considerable resistance level.” # Key Resistance and Potential for Price Discovery Beyond $100,000 Glassnode emphasized that breaking through this resistance level could open the path for Bitcoin to enter a new price discovery phase above $100,000. The firm stated, “If Bitcoin decisively surpasses this price range, it may pave the way for price discovery, driving the cryptocurrency beyond the $100,000 milestone.” As Bitcoin approaches these critical levels, market participants will closely watch the interplay between sellers, especially LTHs, and the strength of buyer demand, which will likely determine the cryptocurrency’s future trajectory.