Bitcoin’s next climb could result in less sales if sailing above $130,000, according to comments from Bitwise CEO Hunter Horsley.
Bitcoin hovered much of this week near a record high of $111,975 on May 22nd. It’s $107,880, which is just $3,275 more than its peak. Early buyers have made some benefits, but if the coin truly invades a new territory, that trend can disappear.
Profits cost around 100,000 levels
According to Horsley, most of the sales on sale come from holders who purchased Bitcoin at a low price. He points to the $100,000 mark as a significant threshold.
When BTC reached that level on May 8, on-chain analytics company GlassNode flagged a “notable increase” in old timer sales. These benefits are genuine. Bitcoin is up about 210% with coins held for at least 150 days. It’s natural to pocket profits when people turn green.
If Bitcoin breaks over $1.30-150,000, for example, then I don’t think anyone will sell Bitcoin.
It appears that at present, several individuals are selling a number of Bitcoin, which are purchased at a very low price, for $100K.
That said, when Bitcoin breaks a new level, this is…
– Hunter Horseley (@hhorsley) June 10, 2025
High profits from long-term holders
Based on a report from the Crypto Analytics platform Bitbo, the average long-term holder paid around $34,415 per Bitcoin. Currently, it is a 210% profit at the current price.
Horsley says profits will be slower if Bitcoin rises to the $130,000-150,000 zone. At that point, the seller weighs more than 300% of profit. Few people would like to return these types of returns.
Borrowing as an alternative
Horsley also looks at the changes in the way people extract profits without selling. With on-chain borrowing and lending growth, holders can use Bitcoin as collateral.
Instead of cashing out, they can withdraw a loan for the coin. This will help to provide tighter supply of BTC on replacements and counter desks, helping to support higher prices.
Minor supply remains low
Another factor is minor sales. Michael Saylor of Strategy pointed out on June 10th that miners were driving around about 450 BTC per day. At today’s rate, it’s selling at around $50 million a day.
If that volume is fully acquired, Saylor believes the price will have to rise. With 450 coins collide with the market every day, even modest demand could tilt the scale.
Market analysts support the idea that $130,000 is within reach. They cite strong trends from large institutions, using this year’s prices as a boost. Institutional demand meets daily declines in supply, and mathematics refers to fresh highs.
Still, not everyone is halting sales at the new peak. Fugitives who buy near big milestones tend to make quick profits. Loans for Bitcoin are risky as prices drop and lead to forced sales.
News of macroeconomic movements and regulations can also sway in either direction.
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