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This Group is Buying the Dip in Bitcoin: $100,000 New Support? - Coin Bulletin
The slowing of long-term Bitcoin investors' sales indicates that the $100,000 level is becoming a strong support.
In the Bitcoin (BTC) market, there has been a noticeable slowdown in the selling trend of long-term investors. This contributed to the transformation of the $100,000, seen as a psychological level, from resistance to support.
Since January 17th, except for a brief exception, the Bitcoin price has managed to stay above $100,000 level. Especially during a period of high market volatility due to the inauguration of US President Donald Trump.
According to a study published by CoinDesk in December, long-term investors holding Bitcoin for more than 155 days emerged as one of the main sources of selling pressure in the market. This group, called "smart money," typically follows a strategy of buying when prices are low and selling when prices strengthen.
In September, these investors had a total of 14.2 million BTC. However, this figure has now declined to 13.1 million BTC. While there was a slowdown in sales at the beginning of the year, this group has started selling again in recent days with the rise in prices, but at a slower pace compared to previous periods.
According to historical data, the cessation of sales by this group of investors usually indicates the peaks in the market cycle. This was observed previously in 2013, 2017, 2021, and 2024.