Prediction: Analyst Anticipates Bitcoin Soaring Beyond $100,000 Mark
Ready to dive into Bitcoin's current scene on Google News? Glassnode's on-chain analytics has pointed out a potential hurdle for Bitcoin as it inches closer to the $100,000 mark.
Recent trends hint that some Bitcoin holders might be offloading their coins, thanks to the cryptocurrency's approaching breakout level. According to Glassnode, the Bitcoin market is about to face a tug-of-war between bullish momentum and sell-off pressure from long-term holders.
When will Bitcoin hit $100,000?
Bitcoin's recent rallies have almost reached the $100,000 milestone, but a significant resistance zone could obstruct its surge, at least in the short run. Data from CoinGlass suggests that a considerable number of BTC were bought between $95,000 and $98,000, indicating that some holders may be aiming to exit at a break-even point, causing a temporary slide before the next breakout point.
Although long-term holders tend to fuel bullish momentum, they can also impact Bitcoin's price potential when circumstances like these arise. Even though it's hard to pinpoint when the roadblocks will occur, Bitcoin is showing promising trends, signaling a possible price correction.
As per the analyst's analysis, long-term Bitcoin holders might become more aggressive in their distribution when their unrealized profits hit around 350%. This corresponds to a Bitcoin price of approximately $99.9K.
If Bitcoin manages to surpass this level, it will be free to attempt a fresh breakout, thus paving the way for discovering new price levels above $100K.
While Bitcoin has demonstrated tenacity in recent price movements, it maintained a steady position during the late hours of May 2nd, despite rallying as high as $97,811 earlier. As of press time, Bitcoin is trading steadily at around $97,050, according to CoinMarketCap data.
Despite these price swings, Bitcoin has managed to secure investor confidence, with 254,000 BTC remaining untouched for over 155 days. Although many of these were bought above $95k, it seems that many long-term holders are still eager to accumulate Bitcoin even during volatile periods.
Bitcoin Price Prediction
Predictions for May 2025 suggest a mixed outlook for Bitcoin, with frequent volatility due to potential sell-offs:
Short-Term Volatility: Analysts foresee possible setbacks below $96,000, driven by factors like bearish CMF (Chaikin Money Flow) signals and short-term profit-taking. However, these dips are viewed as temporary, with the $95K–$97K range acting as immediate support.
Bullish Momentum:- Breakout Potential: Bitcoin is gearing up to breach $100K, potentially reaching $105K–$110K by month’s end. Some forecasts even stretch to $132,980.- Market Sentiment: High BTC dominance and ETF inflows indicate robust institutional interest, reinforcing upward momentum.- Long-Term Holder Activity: While the specific 350% unrealized profit threshold isn't detailed in the data, historical patterns suggest long-term holders may gradually liquidate near all-time highs, creating intermittent resistance. Current predictions don't view this as a primary downward catalyst. Instead, they prioritize other factors, such as the bullish crossover in the Bull Market Support Band.
In summary, while long-term holder selling could create volatility, most analysts focus on macroeconomic factors and technical indicators to uphold a bullish May 2025 outlook.
- The approach of Bitcoin towards the $100,000 mark is being closely monitored, with Glassnode indicating potential challenges.
- Some Bitcoin holders might be selling their coins as the cryptocurrency nears its breakout level, causing a tug-of-war between bullish momentum and sell-off pressure.
- If Bitcoin cannot surpass the current significant resistance zone, it may experience a temporary slide before the next breakout point, according to data from CoinGlass.
- Long-term holders, despite fueling bullish momentum, can impact Bitcoin's price potential when circumstances like unrealized profits of 350% arise, causing aggressive distribution.
- In May 2025, Bitcoin price predictions suggest volatility due to potential sell-offs, with temporary dips predicted below $96,000 and the possibility of breaking $100K, potentially reaching $105K–$110K by the end of the month.
- Long-term holders may gradually liquidate near all-time highs in the future, creating intermittent resistance, but macroeconomic factors and technical indicators are expected to uphold a bullish outlook for May 2025.
