The 120,000 dollar barrier will be difficult to cross for bitcoin
This price zone where bitcoin has been consolidating since its ATH is being used by long-term investors to take profits.
Bitcoin (BTC) faces a key challenge at 120,000 dollars, a level where long-term investors are taking profits, keeping the price in a consolidation zone after reaching its all-time high.
This behavior, although expected, raises questions about the next move of the digital currency.
Long-term holders (LTH) have shifted to a net negative position at the 120,000 dollar resistance, according to an analysis published by on-chain data provider CryptoQuant, conducted by analyst Burak Kesmeci.
The chart shows the price of bitcoin (blue line) and the behavior of long-term investors. Green bars indicate LTH accumulation, while red indicates selling. In May, June, and July 2025, while bitcoin surpassed 100,000 dollars, LTH were accumulating.
However, as it approaches 120,000 dollars, although there is still accumulation, LTH are starting to sell, likely to secure profits.
This shift reflects that investors with positions held during past cycles are beginning to sell. Kesmeci emphasizes that, for now, the magnitude of these sales is not concerning.
