Maximum potential for Bitcoin: long-term holders would have to sell 828,000 BTC in 30 days

Bitcoin's rise toward $100,000 has seen a significant amount of selling from long-term holders, which, according to some analysts, could indicate a potential peak that turns markets bearish and surprises traders when buying demand begins to wane.

"It's a game of musical chairs: enjoy the ride, but prepare for when the music stops," said Maartuun, a contributor to CryptoQuant, in a post on X on December 8.

Long-term holders are selling their Bitcoin

Since November 8, long-term holders, wallets that have held Bitcoin

BTC

tickers down

95,775 €

for at least 155 days, have sold 827,783 $BTC , with an approximate value of $82.6 billion at the current price of around $99,200.