Bitcoin Approaches $100,000 as Long-Term Holders Eye 350% Profits
2min read Bitcoin has recently shown resilience and stability, with on-chain analytics platform Glassnode identifying a key resistance zone for the cryptocurrency. This zone suggests that some Bitcoin holders may be considering an exit soon, as the cryptocurrency navigates between bullish momentum and sell-side pressure from long-term holders. The analytics firm revealed that Bitcoin is moving toward the next breakout level, with long-term holders potentially looking to take profits.
Recent movements have seen Bitcoin closely approaching the $100,000 mark, but a key resistance zone may temporarily halt its rally. Data shows that a significant number of BTC were acquired between $95,000 and $98,000, implying that many holders may be eyeing a breakeven exit. This could cause a temporary decline before the next breakout point. Long-term holders, who often contribute to bullish momentum, have the power to influence Bitcoin’s price potential at this time. Although it is uncertain when the roadblocks will occur, Bitcoin is already establishing stable trends, signaling an emerging price retreat.
According to the analyst, Bitcoin long-term holders may be distributing more aggressively once their unrealized profits hit around 350%. This corresponds closely with a Bitcoin price of roughly $99.9K. If Bitcoin can neatly cross this level, the crypto will become open to a fresh breakout, thereby opening its path to discovering new price levels above $100K. Bitcoin has shown resilience in recent price movements, maintaining a stable position during the later hours of May 2nd after rallying as high as $97,811 earlier. The token is trading steadily at around $97,050 as of press time.
Ask Aime: Will Bitcoin's $100,000 resistance hold?
Amid its resilient signals, Bitcoin has secured investors' confidence as further data shows that over 254,000 BTC have remained untouched for more than 155 days. While many of the BTC were bought at above $95k, it appears that many long-term holders are still willing to continue accumulating the token and hold even through volatility. Bitcoin has recently surged past critical resistance levels, reigniting hopes of a fresh rally toward the long-anticipated $100,000 milestone. The cryptocurrency climbed above $94,000 earlier this week and extended gains past $96,000, a level many analysts viewed as a psychological and technical barrier. This breakout marked a shift in short-term sentiment after weeks of sideways trading.
Key drivers behind the breakout include renewed buying activity in spot Bitcoin ETFs, signaling institutional confidence. Additionally, miner selling has slowed significantly post-halving, helping ease downward pressure on price. Technically, Bitcoin broke through a multi-week descending trendline, a move often interpreted as a bullish reversal. Analyst Tony Sycamore noted, “Bitcoin’s ability to flip $94K into support opens the door for $100K.” The next few days will be critical in determining whether Bitcoin can sustain its momentum or if it’s just another short-lived spike. Immediate resistance is at $97,000, with the short-term goal being the $100,000 milestone. Support levels to watch are $94,000 and $88,000. If bulls can hold support above $94,000, traders say the next leg higher could unfold quickly.
On-chain metrics also support the bullish case. Long-term holders have resumed accumulation, while exchange balances continue to decline—both signs of a supply squeeze forming in the background. According to the analyst's forecast, these are classic signs of pre-rally accumulation phases seen in past bull cycles. Many market participants now view $100,000 not as an “if,” but as a “when.” Factors fueling that optimism include expanding institutional adoption via spot ETFs, Bitcoin’s halving effect reducing supply, and a favorable macro backdrop with rising inflation hedging demand. However, volatility remains a constant, and sudden rate policy shifts or geopolitical shocks could easily derail the rally.
The latest Bitcoin market snapshot shows a strong performance, with the cryptocurrency approaching the significant $100,000 threshold. The substantial trading volume indicates heightened investor interest and activity. For Bitcoin to maintain its upward path, buyers must defend support zones and follow through with volume. The market is watching closely, and the next move may define the trajectory for the rest of the year.
