Ah, Bitcoin! The digital currency that has more ups and downs than a toddler on a sugar high. According to Hunter Horsley, the CEO of Bitwise, once Bitcoin sails past the magical $130,000 mark, we might just see a HODL frenzy that would make even the most seasoned investors clutch their pearls. 💎
This week, Bitcoin has been playing a game of limbo, hovering just below its all-time high of $111,975 from May 22. At a current price of $107,880, it’s practically begging to break free from its chains. Early buyers have taken some profits, but let’s be honest, who wouldn’t want to cash in when the coin is flirting with new heights?
Profit Taking Around 100K Level
According to our friend Horsley, the recent selling spree is mostly from those lucky folks who bought Bitcoin back when it was cheaper than a cup of coffee. He highlights the $100,000 mark as a pivotal point. When BTC hit that level on May 8, the analytics wizards at Glassnode reported a “notable increase” in selling from the old-timers. After all, who wouldn’t want to pocket some of those sweet, sweet gains? 📈
“I think once Bitcoin breaks through eg $130-150k, no one is going to sell their Bitcoin.”
“Right now at $100k, it seems individuals who hold a lot of Bitcoin that was bought a long time ago at very low prices, are selling some.”
“That said, once Bitcoin breaks new levels, this…”
— Hunter Horsley (@HHorsley) June 10, 2025
High Gains For Long-Term Holders
According to the crypto analytics platform Bitbo, the average long-term holder paid about $34,415 per Bitcoin. That’s a whopping 210% profit at current prices! 💸 Once Bitcoin climbs into the $130k–150,000 zone, Horsley predicts that profit-taking will slow down. After all, who wants to give up a 300% gain? Not this guy!
people are finding ways to tap into their gains without actually selling. Thanks to the rise of on-chain borrowing and lending, holders can use their Bitcoin as collateral. Instead of cashing out, they can draw loans against their coins. It’s like using your house to fund a vacation, but with a lot more volatility! 🏖️
Miner Supply Remains Low
Another factor to consider is the miners. Michael Saylor from Strategy noted that miners are moving about 450 BTC per day. At today’s rates, that’s roughly $50 million in sales each day. If that volume is gobbled up, Saylor believes prices must move higher. With only 450 coins hitting the market daily, even a slight uptick in demand could send prices soaring. 🚀
Market analysts are optimistic that $130,000 is within reach, citing strong flows from big institutions as a boost to prices this year. Institutional demand meets dwindling daily supply, and the math suggests fresh highs are on the horizon. But beware! Not everyone stops selling at new peaks. Latecomers who buy near big milestones can be quick to take profits. And let’s not forget, loans against Bitcoin carry risks if prices drop, leading to forced selling. 😬
Macroeconomic moves or regulatory news could also send shockwaves through the market. So, buckle up, folks! It’s going to be a bumpy ride!
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2025-06-12 23:46