Bitcoin is approaching the $100,000 milestone, but it is facing resistance as long-term holders (LTHs) are selling their coins. LTHs have sold around 507,000 BTC worth $47 billion, which is lower than the amount sold during the March 2024 price surge. This selling activity shows changing patterns among long-term investors, with billions in profits realized. The sell-off mainly comes from coins aged between six months and one year, indicating potential for further distribution as prices rise. The rate of LTH distribution is higher than during the March peak, but the volume of long-held coins being transacted is lower. Long-term holders are locking in a record $2.02 billion in daily profits, but a period of re-accumulation may be needed for the market to stabilize. The current rally has left a gap between $76,000 and $88,000, which could pose challenges for price sustainability before reaching $100,000.



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