Glassnode Warns of Selling Risks as Bitcoin Approaches $100,000 Milestone

The total unrealized gains for long-term investors in the first cryptocurrency have approached 350%, a historical pattern that has often preceded increased selling pressure. This scenario was outlined by Glassnode.

Experts suggest that this metric could hit a crucial threshold if prices rise to $100,000.

“This will require significant demand to absorb the selling pressure and sustain upward momentum,” the analysts cautioned.

A trader known as TheKingfisher pointed to the liquidity of the order book as an indicator of a potential shift in price dynamics.

The expert advised bullish investors to remain cautious due to the “weak” buying momentum observed.

Glassnode recommended ensuring that the price remains above the “cost basis” for speculators ($93,200) and the 111 DMA ($91,300).

“For further growth, these levels need to be broken and maintained, as a failure to hold them would push prices back into bearish territory,” the analysts explained.

Earlier, Peter Chang, head of research at Presto Research, identified the factors that could drive Bitcoin to $210,000 in 2025.

It’s worth noting that Standard Chartered urged investors to buy digital gold, predicting a price increase up to $120,000 by the fourth quarter.