Bitcoin remains short of $100K as long-term holders capitalize on recent price rise

Bitcoin (BTC) trades below $95K on Tuesday following increased selling pressure among long-term holders (LTH) after a series of new all-time highs (ATH).

Bitcoin trades below $100K as long-term holders continue to hinder its price from reaching the psychological milestone. Glassnode data noted that long-term holders have been taking profit near $100K. Bitcoin 's consecutive all-time highs have resulted in $2 billion daily profit for long-term holders. Bitcoin trades below $95K on Tuesday following increased selling pressure among long-term holders after a series of new all-time highs .

It also indicates that the current distribution rate of LTH spending surpasses that seen during the March 2024 ATH, signaling a more aggressive approach to distribution as the market moves towards the $100,000 valuation. Likewise, long-term holders are now realizing a staggering $2.02 billion in profits daily, marking an all-time high and surpassing a previous record set in March.

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