Bitcoin Long-Term Holders Take Profits at $90K, Eyes Still Set on $100K

Bitcoin journey to new all-time highs has prompted long-term holders (LTHs)—those who’ve kept their BTC for at least 155 days—to cash in on their investments. According to CryptoQuant analyst Percival, these veteran Bitcoiners view the $90,000 milestone as a prime profit-taking opportunity.

In a November 16 report, Percival explained that the sell-side activity among LTHs has increased since Bitcoin broke its previous record of $73,800 earlier this month. For months, the cryptocurrency’s price had been consolidating between $53,000 and $72,000. However, following pro-Bitcoin policies and Donald Trump’s return to the U.S. presidency, Bitcoin surged past $90,000 on Nov. 12 and peaked at $93,215 on Nov. 13.

“These investors see $90K as the first target—a psychological threshold for locking in gains,” Percival wrote. Despite this wave of selling, the market remains largely unaffected thanks to the robust inflows into spot Bitcoin exchange-traded funds (ETFs), which have absorbed much of the selling pressure.

ETFs Absorbing Sell-Side Pressure

The surge in Bitcoin’s price has been accompanied by an influx of funds into U.S. spot Bitcoin ETFs. Since November 5, around $4.09 billion has flowed into these ETFs, highlighting their growing role in stabilizing the market.

“The ETFs’ ability to absorb these coins ensures that the sell-side pressure doesn’t derail Bitcoin’s upward momentum,” Percival noted. He described the sell-off as “superficial,” with demand from institutional and retail investors offsetting the selling activity.

Prominent Bitcoin advocates, including MicroStrategy’s Michael Saylor, remain optimistic about the cryptocurrency reaching six figures. Saylor, who appeared on CNBC earlier this week, expressed confidence in Bitcoin hitting $100,000 before year-end, even teasing plans for a celebratory party.

Hopes High for a Six-Figure Milestone

Analysts are equally bullish. Ryan Lee, chief analyst at Bitget Research, pointed out that November historically delivers strong returns for Bitcoin. He projected a 14.7% price increase from current levels, which would push the crypto beyond the much-anticipated $100,000 mark by month’s end.

For now, while profit-taking among long-term holders continues, market sentiment remains overwhelmingly positive. With ETFs providing a safety net and historical trends favoring further growth, Bitcoin’s six-figure milestone may be closer than ever.