A CryptoQuant analyst reveals that Bitcoin long-term holders may start selling once their profits exceed 300%, impacting future price action.
Historically, long-term holders sold during past Bitcoin rallies when their profit ratios hit the 300% mark.
Currently, despite Bitcoin trading over $109,000, long-term holders are only up about 215% on average due to changes in their cost basis.
The market may see a shift as Bitcoin approaches $137,000, potentially leading to long-term holders either gradually taking profits or preparing for more selling.