📊👀 Glassnode: Long-term holders continue to accumulate #BTC.
Historically, LTH is starting to be distributed more aggressively, targeting 350% unrealized gains, which equates to a BTC price of ~$99.9k. Selling pressure is likely to increase as the market approaches this level.
A large amount of BTC has been purchased in the $95-$98k range, meaning some BTC holders may break even. This, coupled with LTH gains, creates a key resistance zone. A clean breakout could pave the way for a price move above $100k.