Bitcoin Holders May Start Selling Near $99,900, Glassnode Warns

Glassnode says long-term Bitcoin holders could begin selling at $99,900, where unrealized profits hit 350%, triggering potential sell-side pressure.

Bitcoin Long-Term Holders May Sell at $99,900, Glassnode Warns

Bitcoin’s price recovery continues to fuel optimism, but a new report from Glassnode suggests that a wave of sell-side pressure could soon test the market’s strength—specifically from long-term holders (LTHs).

According to Glassnode’s latest weekly insight, LTHs—defined as wallets that have held Bitcoin for over 155 days—may begin taking profits once the BTC price hits around $99,900. The threshold isn’t arbitrary. Historical data shows that these seasoned investors usually start spending their coins once their unrealized gains reach approximately +350%.

Currently, LTHs are still firmly holding, even as the BTC price nears $97,000. Over the past two months, this cohort has added about 254,000 BTC to their holdings, suggesting confidence and reduced selling activity—even during recent rallies. This increase also implies that short-term holders (STHs) are maturing into long-term participants.

Diamond Hands, Until the Math Changes

While LTHs are known for their resilience, Glassnode’s data shows that they are not immune to market euphoria. In both 2021 and 2023, this group gradually increased spending as profit margins ballooned.

Currently, the average cost basis—or Realized Price—for long-term holders remains far below current trading levels, giving them a substantial paper profit. But, if Bitcoin’s price climbs to $99,900, their average unrealized return will hit the historical 350% profit tipping point.

“Historically speaking,” the report states, “the Long-Term Holder cohort typically ramps up their spending pressure when the average member is holding a +350% unrealized profit margin.”

This means that if Bitcoin continues its upward momentum, traders and analysts should watch closely as the market nears the $99K–$100K range. Selling from LTHs could temporarily disrupt the bullish trend.

Bitcoin’s Current Standing

At the time of writing, Bitcoin trades around $96,500, marking a 4% gain over the last week. Market sentiment remains positive, but investors are now bracing for possible turbulence as LTHs inch closer to their historical profit trigger.

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