Bitcoin Long-Term Holder Selling Slows, $100K Now Key Support Level

The sustained selling pressure from Bitcoin (BTC) long-term holders appears to be tapering off, a shift that has reinforced $100,000 as a significant psychological support level for the first time in the cryptocurrency’s history.

Bitcoin has consistently traded above $100,000 since Jan. 17, with only a brief exception, despite heightened volatility surrounding President Donald Trump’s inauguration.

Long-term holders—defined as investors who retain Bitcoin for over 155 days—have been a major source of selling pressure, particularly during the last quarter of 2024. Often considered “smart money,” this cohort tends to buy during price declines and sell into strength, according to CoinDesk research.

Back in September, long-term holders collectively owned 14.2 million BTC, but this figure has since fallen to 13.1 million BTC as of January. While sales slowed at the beginning of the year, some renewed selling has been observed in recent days, albeit at a reduced pace as Bitcoin’s price continued to rise.

Historically, significant reductions or pauses in selling activity by long-term holders have marked pivotal moments in Bitcoin’s price cycles, coinciding with tops in 2013, 2017, 2021, and 2024.

As Bitcoin continues to stabilize above $100,000, the behavior of long-term holders will remain a critical indicator for traders and analysts monitoring the sustainability of the current rally and its potential to break new highs.