Bitcoin Holders Show Divergence as Key Resistance Nears

Bitcoin’s approach to the $99,900 resistance could alter its trajectory significantly, as long-term holders show confidence while short-term holders take profits.

Long-Term Holders (LTHs)

Long-term holders (LTHs) of Bitcoin have shown significant accumulation, increasing their holdings to 13,755,722 BTC. This behavior remains steady even with the cryptocurrency trading below $99,900. “Long-term holders (LTHs) have accumulated 635,340 BTC since January 2025, demonstrating strong accumulation behavior.” – Glassnode Analyst, Glassnode, Glassnode Insights

Short-Term Holders (STHs)

The market composition reflects a divergence, where short-term holders (STHs) have reduced their positions by 460,896 BTC. This reduction suggests profit-taking or loss-cutting by STHs in light of recent price movements.

Bitcoin’s rise back above $90,000 after prior declines has sparked interest, with LTHs retaining their investments amid price fluctuations. Their commitment suggests belief in future gains.

Resistance and Future Dynamics

Bitcoin’s potential breakthrough of the $99,900 resistance might hinge on whether LTHs begin to distribute their BTC holdings. Historical data from Glassnode Insights suggests potential selling pressure as profit margins rise.

Unrealized losses still affect the market, with around 2.6 million BTC currently underwater. These losses contribute to market uncertainty and could influence future trading behavior.

Glassnode data indicates the critical player dynamics between LTHs and STHs. As Bitcoin approaches the significant resistance, investor behavior will be crucial in determining market direction.