Bitcoin Nears $100K as Hodlers Face Temptation to Cash In on 350% Unrealized Gains
As BTC Climbs Toward Six Figures, Pressure Mounts on Long-Term Investors to Sell
Bitcoin’s price surge toward the $100,000 mark could trigger a significant sell-off as long-term holders sit on unrealized profits nearing 350%, according to a new analysis from on-chain intelligence firm Glassnode.
With BTC recently touching $97,500, its highest level since February 21, the cryptocurrency market is entering a crucial phase. Historical trends suggest that when long-term holders (LTHs) — those holding Bitcoin for over six months — see profits reach the 350% mark, many begin selling to lock in gains, threatening the momentum of the rally.
$99.9K: The Psychological and Financial Breaking Point
In Glassnode’s latest Week Onchain report, analysts identify $99,900 as the level where the average LTH will hit the 350% profit mark. This zone has previously been a trigger point for heavy profit-taking, making it a potential ceiling for Bitcoin’s current run — unless significant buying pressure steps in to absorb the sell-side momentum.
“We can anticipate an uptick in sell-side pressure as the market approaches this zone,” the report states, emphasizing the delicate balance between bulls and bears.
Thin Liquidity Signals Caution for Bitcoin Bulls
Even as the price ascends, trading data paints a mixed picture. Analyst TheKingfisher pointed out a massive stack of long liquidation orders under $91,000, suggesting a vulnerability in bullish positions.
Meanwhile, shorts above $96.6K appear minimal, indicating a potential downside magnet if buying dries up.
“Upside fuel looks thin for now,” TheKingfisher warned on X, pointing to the lack of resistance that typically powers parabolic breakouts.
Support Levels Tested: Can BTC Stay Above Key Moving Averages?
Glassnode also flagged Bitcoin’s recent breakout above the 111-day Simple Moving Average (SMA) and the short-term holders’ cost basis as a sign of strength. However, it stressed that these levels must be defended, or risk dragging Bitcoin back into bearish territory — erasing recent gains and plunging investors back into unrealized losses.
“A rejection of this level would push the price back into bearish territory,” the report stated, cautioning against premature euphoria.\
The Road to $100K Is Not Without Obstacles
As Bitcoin flirts with historic resistance zones, the battle between profit-hungry long-term holders and hopeful bulls intensifies. Whether BTC breaks through $100K or stalls again will likely depend on liquidity strength, macroeconomic signals, and the willingness of new buyers to absorb billions in potential sell pressure.
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