Long term BTC holders fully absorb short-term selling pressure, with strong resistance at $95000

BlockBeats news, on April 24th, according to CoinDesk, as the price of Bitcoin rebounded above $90000, long-term holders (holding for ≥ 155 days) continued to buy, absorbing short-term holder selling pressure at a ratio of 1.38:1, resulting in a net increase of 635340 BTC held by Bitcoin holders since January. The total holdings of current long-term holders are approximately 13.755 million BTC, accounting for approximately 65% of the total circulation. Short term holders hold approximately 3.51 million BTC and have reduced their holdings by approximately 460000 BTC in the past 155 days. The cost price of Bitcoin for long-term holders is mostly concentrated in the range of $65000-95000, while short-term holders have recently generally taken profit taking or cut meat operations, and market sentiment has not fully recovered. Although Bitcoin has still retreated 30% from its historical high of $109000 in January, long-term holders continue to hoard at low levels, a typical feature of high-level distribution. At present, there are a total of 2.6 million BTC in the market that are still in a loss state, mainly due to buying above $95000, which constitutes a strong resistance level. The market needs to pay attention to whether the key psychological barrier of $95000 can be effectively broken through.