Bitcoin Long-Term Holders Slow Selling, Establishing $100K as Strong Support
The sustained selling by Bitcoin (BTC) long-term holders appears to be tapering off, reinforcing $100,000 as a key psychological support level for the first time in the cryptocurrency’s history.
Since Jan. 17, Bitcoin has maintained a price above $100,000, barring a brief dip, even amid heightened volatility linked to President Donald Trump’s inauguration, which drove significant market activity.
Long-term holders—defined as investors who retain Bitcoin for over 155 days—have been a critical source of market supply in recent months. Known as “smart money,” these holders often accumulate during price downturns and sell when prices rise, according to CoinDesk research.
Back in September, this group collectively held 14.2 million BTC, a figure that has since dropped to 13.1 million BTC as of this month. Although selling activity slowed at the start of the year, some renewed selling pressure emerged with Bitcoin’s recent rally, albeit at a lower intensity.
Historically, the point at which long-term holders significantly reduce or pause selling has often marked key price cycle tops, as seen during Bitcoin peaks in 2013, 2017, 2021, and 2024.
As Bitcoin consolidates above $100,000, the behavior of long-term holders will remain a vital indicator for market analysts evaluating whether the cryptocurrency is poised for further upside or nearing a cycle plateau.
