Long-term holders of BTC have fully absorbed the short-term selling pressure, and there is strong resistance at $95,000
ChainCatcher news, according to CoinDesk, as the price of Bitcoin rises above $90,000, long-term holders (holding for ≥155 days) continue to buy, absorbing the selling pressure from short-term holders at a ratio of 1.38:1. Since January, Bitcoin holders have net increased their holdings by 635,340 BTC. Currently, the total holdings of long-term holders are approximately 13.755 million BTC, accounting for about 65% of the circulating supply. Short-term holders own about 3.51 million BTC, having reduced their holdings by approximately 460,000 BTC over the past 155 days.The cost price of long-term Bitcoin holders is mainly concentrated in the $65,000-$95,000 range, while short-term holders have generally adopted profit-taking or cutting losses recently, and market sentiment has not fully recovered. Although Bitcoin is still down 30% from the January historical high of $109,000, long-term holders continue to accumulate at low levels, displaying typical characteristics of distributing at high levels. Currently, there are 2.6 million BTC in the market that are in a loss position, mainly from purchases made above $95,000, forming a strong resistance level. The market needs to pay attention to whether the key psychological level of $95,000 can be effectively broken.
