Bitcoin Investors Hold Tight as BTC Finds Strong Support at $98K, Glassnode Says
2025-07-02 09:01:20
Main Idea
Bitcoin has found strong support at $98,300, with short-term holders showing confidence, while long-term holder selling and profit-taking may cap further price gains.
Key Points
1. Bitcoin's support around $98,300 reflects strong confidence among short-term holders (those who bought within the past 155 days).
2. Total unrealized profits among Bitcoin holders have climbed to $1.2 trillion, nearing the all-time high of $1.3 trillion.
3. Analysts warn that long-term holder selling could limit Bitcoin's upward momentum, despite strong institutional interest.
4. Bitcoin's price surge from $73,000 to over $107,000 since April appears to be stalling due to fading momentum and increased profit-taking.
5. US spot Bitcoin ETFs have pulled in $4.63 billion since June 9, contributing to market expectations despite near-term caution.
Description
Bitcoin holders are tightening their grip on their coins, with Glassnode reporting Tuesday that the majority of investors now sit on unrealized profits after BTC’s rebound to $107,000. Key Takeaways: Most Bitcoin investors are sitting on unrealized gains averaging 125%, with few rushing to sell. Bitcoin’s support around $98,300 signals strong confidence among short-term holders. Analysts warn long-term holder selling could cap BTC’s momentum despite bullish sentiment. The blockchain analytics fi...
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