Bitwise CEO Hunter Horsley has made a notable prediction that Bitcoin holders are likely to stop selling once the price surpasses the $130,000 mark. This comes at a time when Bitcoin exchange balances have decreased by 14%, now at just 2.5 million BTC—the lowest level since 2022. Institutions like BlackRock and MicroStrategy are accumulating Bitcoin as part of their long-term investment strategy.
Currently trading around $107,000, many early Bitcoin holders are taking profits, triggering some selling pressure. However, Horsley believes this trend may reverse once Bitcoin approaches its historical highs. He suggests that when Bitcoin enters the $130,000 to $150,000 range, holders may regard it as a long-term wealth storage rather than a transaction asset.
Recent on-chain data indicates that more Bitcoin is being withdrawn from exchanges to cold storage, which reduces the available supply for potential buyers. Since early 2025, long-term holders (those holding Bitcoin for over 155 days) have risen by approximately 215%, with an average purchase price of $34,414. Instead of cashing out, these holders might seek loans backed by their Bitcoin, further decreasing market supply.
Currently trading around $107,000, many early Bitcoin holders are taking profits, triggering some selling pressure. However, Horsley believes this trend may reverse once Bitcoin approaches its historical highs. He suggests that when Bitcoin enters the $130,000 to $150,000 range, holders may regard it as a long-term wealth storage rather than a transaction asset.
Recent on-chain data indicates that more Bitcoin is being withdrawn from exchanges to cold storage, which reduces the available supply for potential buyers. Since early 2025, long-term holders (those holding Bitcoin for over 155 days) have risen by approximately 215%, with an average purchase price of $34,414. Instead of cashing out, these holders might seek loans backed by their Bitcoin, further decreasing market supply.
