Bitwise CEO Hunter Horsley indicates Bitcoin’s current sell pressure could diminish significantly once prices surpass the $130,000 mark.
Early Bitcoin holders are actively taking profits near the $100,000 price level, but Horsley anticipates this selling activity will subside as values climb higher. He identifies the $130,000-$150,000 range as a critical psychological barrier where long-term holders become increasingly reluctant to liquidate positions.
Institutional demand continues to bolster Bitcoin’s price growth while alternative liquidity solutions gain traction. Bitcoin-backed loans and other non-sale mechanisms allow holders to access capital without reducing their cryptocurrency exposure, thereby alleviating market sell pressure.
On-chain data reveals long-term Bitcoin holders currently maintain an average unrealized profit margin of 215%. This substantial appreciation incentivizes exploration of alternative liquidity options rather than outright selling, contributing to reduced market pressure at elevated price levels.