Bitcoin price hits a historic key resistance level, and long-term holders are significantly slowing down profit-taking.

HypotheticalLiquidator · 2026-01-21T19:02:53+00:00

Bitcoin price has returned to the suppressed zone at the end of last year, currently at $88.54K, down 1.15% in the past 24 hours. Long-term holders' selling has significantly slowed, with an average weekly sell-off of 12,800 BTC, easing market selling pressure. However, a price rebound requires broader consensus and buying support, while increasing geopolitical risks may exert downward pressure on the price.

HypotheticalLiquidator

2026-01-21 19:02:53

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According to on-chain data platform Glassnode analysis, the current Bitcoin price has re-entered the price zone that suppressed its rise at the end of last year. The latest data shows that BTC is now trading at $88.54K, with a 24-hour decline of -1.15%. Notably, the profit-taking selling activity of long-term holders (holding coins for over 5 months) has significantly slowed down, releasing pressure for a price rebound.

Long-term Holder Selling Volume Significantly Decreases

According to PANews and CoinDesk reports, long-term holders are currently selling an average of approximately 12,800 BTC per week to realize profits. This figure has dropped sharply compared to the peak period at the end of last year, when weekly sales exceeded 100,000 BTC. This substantial slowdown indicates that the main profit-taking pressure has been effectively alleviated.

From an on-chain data perspective, this shift is not accidental. Long-term investors holding large amounts of Bitcoin may be adopting a more cautious profit-taking strategy after evaluating the current price range, which undoubtedly eases the selling pressure faced by the market.

Resistance Levels Repeatedly Tested, Market Resilience Under Scrutiny

Although profit-taking has clearly slowed, this price zone has repeatedly served as a “ceiling” for the rally over the past few months. Analysis indicates that any broader trend reversal still requires the market to fully digest the potential selling pressure from long-term holders. In short, for Bitcoin’s price to effectively break through this key resistance, further market consensus and buying support are needed.

The repeated testing of this historic key level reflects the ongoing struggle between bulls and bears and also suggests that the market remains at a critical decision point.

Increased Geopolitical Risks and Downside Concerns

Meanwhile, the market faces additional uncertainties. Escalating geopolitical tensions could trigger a flight to safety in risk assets, potentially exerting downward pressure on Bitcoin’s price. In this context, the future performance of Bitcoin will depend on closely monitoring changes in the macro environment.

BTC-1,07%

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