BTC HODLers Absorb Short-Term Selling Pressure, $95,000 Faces Strong Resistance

BlockBeats News, April 24th, according to CoinDesk, as the Bitcoin price rebounds above $90,000, long-term holders (holding period ≥155 days) continue to accumulate, absorbing selling pressure from short-term holders at a ratio of 1.38:1. From January to present, Bitcoin holders have net increased their holdings by 635,340 BTC. The current total holdings of long-term holders are approximately 13.755 million BTC, accounting for about 65% of the circulating supply. Short-term holders own approximately 3.51 million BTC, with a net decrease of about 460,000 BTC in the past 155 days.

The cost basis of Bitcoin long-term holders is mostly concentrated in the $65,000-$95,000 range, while short-term holders have recently been taking profit-taking or cutting losses, indicating that market sentiment has not fully recovered. Despite Bitcoin's 30% retracement from its January all-time high of $109,000, long-term holders continue to accumulate at lower levels, a typical sign of distribution at higher levels. Currently, there are 2.6 million BTC in the market in a loss position, mainly from purchases above $95,000, forming a strong resistance level. The market needs to pay attention to whether the key psychological level of $95,000 can be effectively surpassed.