The Burak Kesmeci analyst says that “so far, the profits is not alarming.”
It will be necessary for these sales to end so that Bitcoin takes up the strong bullish course.
Bitcoin (BTC) faces a key challenge in $ 120,000, a level where long -term investors are taking profits, maintaining the price in a consolidation zone after reaching its historical maximum.
This behavior, although expected, generates questions about the next digital currency movement.
Long -term holders (LTH) They have revolved to a purely negative position in the $ 120,000 resistanceaccording to a analysis Published by the on-chain Cryptoquant data provider, conducted by the Burak Kesmeci analyst.
The graph shows the price of Bitcoin (blue line) and the behavior of long -term investors. Green bars indicate accumulation of LTH, and the reds, sale. In May, June and July 2025, while Bitcoin exceeded $ 100,000, the LTH accumulated.
However, when approaching $ 120,000, although there is still accumulation, LTH are starting to sell, probably to ensure profits.
This change reflects that investors with sustained positions during past cycles are beginning to sell. Kesmeci emphasizes that, for now, the magnitude of these sales is not worrying.
However, an actor stands out in this scenario, it is Galaxy Digital. The firm, known for its investment services in digital assets, executed a sale of 80,000 BTC, valued at more than 9,000 million dollars, for a high profile customer, as reported by cryptootics.
Optimistic perspectives, but with caution
Despite the selling pressure, Bitcoin projections in 2025 maintain a positive tone. Michael Saylor, CEO of Strategy, foresees a price of $ 180,000, while Bernstein analysts bet for $ 200,000. Iván Paz Chain, CEO of TrainingDifferent, establishes a support in $ 140,000.
However, the bullish impulse will depend on the sales of the LTH are exhausted. The behavior in the $ 120,000 zone suggests that Bitcoin needs to overcome this resistance to resume its bullish path. While institutional sales, such as Galaxy Digital, do not climb to panic levels, the market maintains its stability.
