Bitcoin Stuck Above $100K: Who’s Selling and Slowing the Next Big Rally?

Bitcoin has been stuck in a tight range between $100K and $110K for over 40 days. Despite strong ETF inflows and positive signs from the market, the price isn’t breaking out. So what’s holding it back? Recent reports reveal that both short-term traders and long-term holders are quietly selling. 

Even Bitcoin miners are adding to the pressure.

Let’s take a deeper look into what’s really going on behind the scenes.

Short-Term Holders Taking Profits

Over the last few weeks, Bitcoin has faced heavy selling pressure from different types of holders. According to Glassnode, wallets that held Bitcoin for less than a year accounted for 83% of realized profits recently. 

Just six to twelve-month holders alone sold over $904 million worth of BTC, one of the highest selling amounts this year.

But it’s not just the short-term crowd. Even long-term holders who’ve kept their BTC for over a year are cashing out. In early June, they realized a massive $1.2 billion in profits. While that number has dropped, it still shows how veteran investors are using this range to take money off the table.

Miners Add to Selling Pressure

Another group adding pressure is the miners.Recent data shows they’ve sold 30,000 BTC in just 20 days, lowering their total holdings from 1.94 million to 1.91 million BTC. 

While this isn’t huge compared to the total market volume, it adds to the overall pressure keeping Bitcoin from breaking higher

Investors Searching For Other Option

At the same time, some institutional investors are shifting their focus. Delta-neutral strategies, which involve locking in gains without price risk, are giving returns of 15–30% APY. 

That’s attractive compared to holding Bitcoin, which has already seen huge gains from $75K to $100K in under two months.

With fewer explosive gains expected from Bitcoin now that it’s over $100K, some funds are diversifying into gold, stocks, or private assets.

Low Funding Rates Signal Healthy

Despite recent volatility in the crypto market, Bitcoin continues to trade above the $100,000 mark, currently hovering around $104,665. 

According to on-chain analytics from Santiment, this price stability is accompanied by notably low funding rates, which is an encouraging sign for the market’s overall health.

Funding rates are a key indicator in the crypto derivatives market. When these rates are low, it means there isn’t a surge of traders using leverage to bet on Bitcoin’s price moves. 

Bitcoin: Key Level To Watch Out

As of now, Bitcoin continues to trade above the $100,000 mark, currently hovering around $104,665. Bitcoin’s next big breakout likely depends on U.S. stocks moving higher or broader liquidity returning to markets. 

The key levels to watch are $102,000 and $106,000.