- Long-term Bitcoin holders achieve 350% profit, suggesting potential distribution distribution pressure.
Bitcoin [BTC] approaches an important psychological level as long-term holders' (LTH) profit 350%—a level typically typically associated with increasing selling pressure.
< p corresponds to a Bitcoin price near $99.9K, signaling a potential turning point. the At the writing time of BTC trades at $96,256.73, decreasing 0.35% daily.<>this zone approaches, face increased pressure from veteran holders, requiring requiring strong buyer presence to maintain and expand the path to six-digit figures.< h2>Can Bitcoin's Upward Above $98K?BTC continues maintaining an upward channel on the 4-hour chart, indicating growth momentum. Price recently reclaimed $96.3K,, now serving as a new support zone.
Meanwhile, $98K has emerged as a key resistance level that bulls may challenge. However, the pattern also suggests potential for and higher peaks, a path towards $100K.
Therefore, this short-term structure remains favorable for buyers if BTC maintains support and follows the projected arrow line.
