Bitcoin Selling Pressure Drops as Price Surges Past $100K

As Bitcoin (BTC) continues its historic rally, recently crossing the $100,000 mark, on-chain data from Swissblock Technologies reveals a striking trend

Bitcoin (BTC) has continued its impressive rally, recently breaching the $100,000 mark. As the cryptocurrency climbs to new all-time highs, on-chain data from Swissblock Technologies reveals a surprising trend: selling pressure is drastically decreasing despite the new price peaks.

Looking at the chart of Net Realized Profit/Loss, a key metric that tracks the overall profit or loss realized by Bitcoin holders, we can observe a clear pattern. During previous surges, especially when BTC broke through prior highs, profit-taking activity would escalate noticeably.

This is evident in the spikes of realized profits during late 2024, which coincided with Bitcoin’s rapid ascent from around $40K to $70K, and again when it crossed $60K. However, the most recent leg of the rally, beginning from the $70K lows and reaching above $100K, presents a different picture.

Despite the substantial price gains, the level of realized profits has remained relatively low. This suggests that current Bitcoin holders are showing strong conviction, preferring to hold onto their positions rather than cash out at a profit.

Such behavior is often associated with a maturing market and growing confidence among investors in higher long-term valuations. If this trend continues, it could provide additional support for price stability at these elevated levels, setting the stage for even more upside potential.