Bitcoin Warnings Issued by Analytics Company: Potential Heavy Sell-Off Areas Identified - Here Are the Specific Levels
Updated Daily Hodl Article
Crypto Markets are buzzing with anticipation! New reports from Glassnode, a top crypto analytics firm, are sparking debate amongst investors and analysts. Here's the lowdown on what's brewing in the Bitcoin realm.
Recent analysis from Glassnode suggests that Bitcoin (BTC) may be gearing up for a showdown at a potential strong resistance level. In a post on social media platform X, the firm indicated that Long-Term Holders (LTHs)—entities who have kept their Bitcoin inactive for at least 155 days—may start offloading Bitcoin near the jaw-dropping $100,000 mark, causing a possible market correction.
"Historically, LTHs begin distributing more aggressively around a 350% unrealized profit margin, which aligns with a BTC price of ~$99,900. As the market nears this level, increased sell-side pressure is likely, requiring strong demand to absorb it."
Interestingly, Glassnode also noted that LTHs have been practically inhaling Bitcoin since the asset breached the $90k range late last month, hinting that the cryptocurrency might soon hit the $99k milestone.
"Long-Term Holders continue to accumulate, with +254,000 BTC aging beyond 155 days since the recent low - many bought above $95,000. Spending remains light, signaling renewed confidence and a lack of interest in de-risking at current prices."
In a possible twist of fate, Glassnode states that if Bitcoin is able to sail beyond the $100,000 resistance barrier, the flagship crypto asset could reach new all-time highs.
"A large cluster of coins was acquired between $95,000-$98,000, 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 $100,000."
At the time of writing, Bitcoins is trading at $96,675, remaining stable on the day.
Are you ready to keep tabs on the markets? Stay connected with us on X, Facebook, and Telegram. Don't miss a beat—subscribe to receive email alerts sent directly to your inbox. Check out our Price Action, The Daily Hodl Mix, and more to stay in the crypto loop!
Disclaimer: The opinions expressed at The Daily Hodl are not financial advice. Always do thorough research before investing in any digital assets. Remember, your transfers and trades are at your own risk, and any losses sustained are your responsibility. The Daily Hodl is not an investment advisor. Additionally, The Daily Hodl participates in affiliate marketing.
In other industry news, aZen recently secured a $1.2 million seed round along with Web 3.0 grants to develop DePIN for Ubiquitous AI after onboarding a staggering 600,000 users. Bitcoin Seoul 2025 is set to host global industry leaders for Asia's largest Bitcoin-focused conference, among other exciting announcements.
Follow us to get the latest updates on the future of finance, including macro news, Bitcoin, Ethereum, trading, altcoins, Futuremash, Financeflux, Blockchain, Regulators, Scams, and more.
Happy HODLing, folks! 🚀💼💸🚀
This article is for informational purposes and should not be considered as financial advice. Always conduct thorough research before investing in any digital assets. All investments come with risks.
Glassnode's analysis gives us an unprecedented glimpse into the historical price patterns of Bitcoin. The experienced insights of long-term holders like yourself can play a crucial role in predicting the future of Bitcoin prices. While navigating the crypto world, it's essential to stay two steps ahead of the game—so don't forget to keep a close eye on market movements and the behavior of long-term holders like Glassnode. Good luck, fellow HODLers! 🥳🚀✨💼
- As the prospect of Bitcoin reaching the $100,000 resistance level looms, investors and analysts are actively engaging in discussions about potential market reactions triggered by long-term holders who might start offloading Bitcoin at said price point, potentially causing a market correction.
- In addition to tracking Bitcoin's price movements, it's equally important to keep an eye on the behavior of long-term holders like Glassnode, as their insights could offer a valuable perspective in assessing the future of altcoins and the broader crypto market.
