Bitcoin has experienced a whirlwind of volatility over the weekend, reaching the psychological $100K mark and a new all-time high of $103,600. Despite this milestone, the price continues to struggle to maintain levels above $100K, raising questions about the strength of the current rally.

Metrics from CryptoQuant reveal a significant trend among Long-Term Holders (LTH), who are actively taking profits. These holders have an average purchase price of $23.4K, realizing an impressive 326% gain on their investments. While this behavior reflects confidence in locking in profits at higher levels, it could also signal caution, as such sell-offs have historically slowed momentum during bull runs.

This wave of selling could spark concerns among investors hoping for uninterrupted upward momentum. Some fear it may create resistance that hinders Bitcoin’s ability to sustain its ascent beyond the $100K threshold. At the same time, it highlights the calculated strategies of experienced market participants, balancing optimism with prudence.

The coming days will be pivotal as BTC navigates this crucial juncture. Whether BTC reclaims its footing above $100K or succumbs to pressure will shape the broader market’s sentiment and determine the next phase of its historic bull cycle.

Demand Remains Strong

Bitcoin has been displaying impressive demand, with the price only experiencing a 10% retrace in the past month after breaking the significant $100,000 level. This shows that the momentum driving Bitcoin’s rise remains strong, and it’s only a matter of time before the cryptocurrency continues its push to new highs.

Analyst Axel Adler recently shared metrics that support the ongoing bullish trend. One key observation is that Long-Term Holders (LTH) are actively selling coins, realizing substantial profits. These holders have an average purchase price of $23.4K, and with current prices, they are sitting on an impressive 326% gain. As these LTHs sell off their holdings, new investors are stepping in to absorb the supply, keeping demand high.