Bitcoin Falls to $98,000 as HODLer Selling Accelerates
Bitcoin slid under the symbolic $100,000 level to about $98,000 as on-chain analytics firm Glassnode flagged increased selling by long-term holders in a post on X. Glassnode’s data indicates LTH supply has been moving to exchanges and realizing gains, a shift that market participants say can add sustained selling pressure after extended rallies. The timing of the distribution coincided with elevated volatility and thinning bid depth around the round number.
The development matters because long-term holders have historically acted as a stabilizing force; renewed profit-taking from that cohort can change market structure and sentiment quickly. Traders and investors will be watching whether this is a temporary rebalancing or the start of broader distribution, as further LTH sales could force short-term liquidations and prompt funds to reassess risk allocation around BTC exposure.