Bitcoin’s next climb could face less selling once it sails past $130,000, according to comments from Hunter Horsley, CEO of Bitwise.
Bitcoin spent much of this week hovering near its May 22 all-time high of $111,975. At $107,880, it’s just $3,275 below that peak. Early buyers have taken some profits, but that trend may fade if the coin breaks into truly new territory.
Profit Taking Around 100K Level
According to Horsley, most of the selling seen lately stems from holders who bought Bitcoin long ago at low prices. He points to the $100,000 mark as a key threshold.
When BTC hit that level on May 8, on-chain analytics firm Glassnode flagged a “notable increase” in old-timer selling. Those gains are real — Bitcoin is up roughly 210% for coins held at least 150 days. It’s natural for people to pocket some profit once they’re in the green.
I think once Bitcoin breaks through eg $130-150k, no one is going to sell their Bitcoin.
Right now at $100k, it seems individuals who hold a lot of Bitcoin that was bought a long time ago at very low prices, are selling some.
That said, once Bitcoin breaks new levels, this…
— Hunter Horsley (@HHorsley) June 10, 2025
High Gains For Long-Term Holders
Based on reports from crypto analytics platform Bitbo, the average long-term holder paid about $34,415 per Bitcoin. Right now, that’s a hefty 210% profit at current prices.
Once Bitcoin climbs into the $130k–150,000 zone, Horsley says, profit-taking will slow down. At that point, sellers would be weighing a 300% gain or more. Few will want to give back those kinds of returns.
Borrowing As An Alternative
Horsley also notes a shift in how people can tap their gains without selling. The growth of on-chain borrowing and lending means holders can use Bitcoin as collateral.
Instead of cashing out, they can draw loans against their coins. That leaves the supply of BTC on exchanges and over the counter desks tighter, helping to support higher prices.
Miner Supply Remains Low
Another factor is miner sales. Strategy’s Michael Saylor pointed out on June 10 that miners are moving about 450 BTC per day. At today’s rates, that’s roughly $50 million in sells each day.
If that volume is entirely bought up, Saylor believes prices must move higher. With only 450 coins hitting the market each day, even modest demand can tip the scales.
Market analysts back the idea that $130,000 is within reach. They cite strong flows from big institutions as a boost to prices this year. Institutional demand meets dwindling daily supply, and the math points toward fresh highs.
Still, not everyone stops selling at new peaks. Latecomers who buy near big milestones can be prone to take profits quickly. And loans against Bitcoin carry risk if prices drop, leading to forced selling.
Macroeconomic moves or regulatory news could also spark swings in either direction.
Featured image from Pexels, chart from TradingView