👀 Glassnode: Long-term holders (LTH) continue to accumulate #BTC.
Historically, LTH are starting to allocate more aggressively, seeking unrealized gains of 350%, which corresponds to a BTC price of ~$99.9k. As the market approaches this level, selling pressure is likely to increase.
A large amount of BTC has been bought in the $95-98k range, meaning some BTC holders could recoup their investment. This, combined with the growth of LTH profits, creates a key resistance zone. A clean breakout could pave the way for the price to establish itself above $100k.
