👀 Glassnode: Long-term holders continue to accumulate #BTC.
Historically, LTH are starting to allocate more aggressively, targeting unrealized gains of 350%, which corresponds to a BTC price of ~$99.9k. As the market approaches this level, selling pressure is likely to intensify.
A large amount of BTC in the $95-98k range has been purchased, meaning that some BTC holders may break even. This, combined with LTH earnings growth, creates a key resistance zone. A clean breakout could pave the way for the price to set above $100k.
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