By (MR_UMAIR)
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Bitcoin, the world’s leading cryptocurrency, may be on the brink of a significant market shift — not just in price, but in investor behavior. According to Bitwise CEO Hunter Horsley, a key milestone lies ahead: once Bitcoin surpasses $130,000, the wave of selling may come to a halt as holders transition into long-term accumulation mode.
A Psychological Barrier at $130K
In a recent statement shared on social media, Horsley suggested that the critical price range of $130,000 to $150,000 could mark a turning point. At that level, he believes most Bitcoin holders will choose to retain their assets rather than take profits. Currently, Bitcoin is trading around $107,000, and some early adopters are cashing out following substantial gains. However, Horsley anticipates that this selling pressure will diminish as prices climb toward new all-time highs.
Once Bitcoin enters this higher range, many investors may begin to view it more as a long-term store of wealth than a short-term trading asset.
Bitcoin Moving Off Exchanges
Supporting this thesis is recent on-chain data, which shows a significant decline in the number of Bitcoins held on exchanges. Since the beginning of 2025, exchange balances have dropped by 14%, with only 2.5 million BTC now available — the lowest level since August 2022. This suggests a trend toward self-custody and long-term holding, as users increasingly move their assets into cold storage.
Moreover, institutional players such as BlackRock, Fidelity, MicroStrategy, and Metaplanet have been amassing large Bitcoin positions. These firms are known for taking long-term strategic positions rather than engaging in short-term trading.
Borrowing Replaces Selling
Another factor contributing to the potential decline in Bitcoin sell-offs is the growing popularity of crypto-backed lending platforms. As Bitcoin’s market value rises, more holders are choosing to borrow against their assets instead of liquidating them.
According to data from Bitbo, long-term holders — defined as those who have held their $BTC for more than 155 days — have increased by approximately 215%, with an average acquisition price of $34,414. Horsley highlighted that these investors are more likely to leverage their holdings for liquidity rather than sell outright, further tightening Bitcoin’s available supply.
A New Phase for Bitcoin?
If Bitcoin does breach the $130K threshold, it may not just represent a new all-time high — it could signal a deeper shift in investor mindset. With increasing institutional adoption, declining exchange reserves, and alternative financing methods like $BTC BTC-backed loans, the market may be entering a phase where supply is more limited than ever, potentially setting the stage for sustained upward momentum.
As the next chapter for Bitcoin unfolds, Horsley’s prediction offers a glimpse into how scarcity and sentiment could redefine the dynamics of the crypto market.
