{"id":175657,"date":"2025-06-11T12:39:14","date_gmt":"2025-06-11T12:39:14","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/175657\/"},"modified":"2025-06-11T12:39:14","modified_gmt":"2025-06-11T12:39:14","slug":"why-bitcoins-sell-off-will-slow-down-once-btc-hits-130k-150k-bitwise-ceo","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/175657\/","title":{"rendered":"Why Bitcoin&#8217;s sell-off will slow down once BTC hits $130K-$150K: Bitwise CEO"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\">Bitcoin\u2019s massive sell-off could abate as large players opt to borrow against the asset.<\/li>\n<li style=\"font-weight: 400;\">Peter Brandt warned that BTC\u2019s double top pattern could trigger a 75% dump to $27K.\u00a0<\/li>\n<\/ul>\n<p>The ongoing profit-taking above $100K may reduce as <a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a> climbs higher. According to Bitwise CEO <a href=\"https:\/\/x.com\/HHorsley\/status\/1932476580351390125\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Hunter Horsley<\/a>, holders will borrow against their BTC stash instead of selling when it surges above $150K.\u00a0<\/p>\n<blockquote>\n<p>\u201cI think once Bitcoin breaks through, eg, $130-150k, no one is going to sell their Bitcoin. And from there on, when people need liquidity, they are going to borrow from an ever-growing set of lenders.\u201d<\/p>\n<\/blockquote>\n<p>In fact, one of the largest wirehouses, JPMorgan Chase, has begun using <a href=\"https:\/\/ambcrypto.com\/jpmorgan-chase-to-accept-crypto-etf-collaterals-btc-push-in-tradfi\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">crypto ETFs as collateral<\/a>, further cementing Horsley\u2019s claim.\u00a0<\/p>\n<p>If the trend picks up, BTC could blast even higher, added Horsley.\u00a0<\/p>\n<blockquote>\n<p>\u201cAll of which will further propel price. There\u2019s simply not going to be enough Bitcoin.\u201d<\/p>\n<\/blockquote>\n<p>Bitcoin \u2014 What\u2019s next in the short term<\/p>\n<p>That said, Bitcoin reversed recent losses and briefly retested $110K earlier in the week. At press time, the asset exchanged hands at $109.5K.\u00a0<\/p>\n<p>But Glassnode stated that selling pressure from long-term holders (LTH) spiked to $930 million per day, but was relatively modest compared to past local peaks.\u00a0<\/p>\n<p>In its weekly <a href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-23-2025\/\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">report<\/a>, the on-chain analytics firm highlighted,\u00a0<\/p>\n<blockquote>\n<p>\u201cThis figure rivals the $840M\/day realized during the $73K ATH, yet remains well below the $1.64B\/day peak seen during the initial breakout above $100K.\u201d<\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/BTC-LTH-sell-off.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-500473\" class=\"size-full wp-image-500473\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Bitcoin\" width=\"1600\" height=\"900\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/BTC-LTH-sell-off.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-500473\" class=\"wp-caption-text\">Source: Glassnode<\/p>\n<p>Given these modest offloading from LTH, Glassnode stated that current price levels may be far from triggering a \u2018broader-scale distribution.\u2019<\/p>\n<p>On key prices to track, Glassnode marked out $115.4K and $97.6K as near-term resistance and support levels, based on the short-term holder (STH) cost basis model.\u00a0<\/p>\n<blockquote>\n<p>\u201cThe $97.6k STH cost basis continues to serve as a pivotal support level necessary for maintaining local bullish momentum. On the upside, the $115.4k zone emerges as the first significant resistance should the market enter price discovery.\u201d<\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/Bitcoin-STH.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-500474\" class=\"size-full wp-image-500474\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Bitcoin \" width=\"1600\" height=\"900\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/Bitcoin-STH.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-500474\" class=\"wp-caption-text\">Source: Glassnode<\/p>\n<p>For perspective, the STH realized price of $97.6K meant that most recent buyers acquired BTC around this level. <\/p>\n<p>As such, a price dip below it could trigger a panic sell-off by this cohort. Such a scenario could dent the current bullish set-up.\u00a0<\/p>\n<p>That said, Peter Brandt made a contrarian <a href=\"https:\/\/x.com\/PeterLBrandt\/status\/1932391437636641256\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">projection<\/a>, suggesting that current price action mirrored a 2021 double top pattern that led to a 75% drop. In such a hypothetical scenario, BTC would dip from $109K to $27K.\u00a0<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/Bitcoin-BTC-Dip.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-500476\" class=\"size-full wp-image-500476\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Bitcoin\" width=\"431\" height=\"528\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/Bitcoin-BTC-Dip.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-500476\" class=\"wp-caption-text\">Source: Peter Brandt\/X<\/p>\n<p>But such massive dump may be far-fetched, given that past bear markets BTC plunge eased around the 200-weekly moving average (currently at $48K).\u00a0<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\tPrevious: <a href=\"https:\/\/ambcrypto.com\/bitcoin-fails-to-break-111k-is-this-the-end-of-btcs-uptrend\/\" rel=\"next noopener\" data-wpel-link=\"internal\" target=\"_blank\">Bitcoin fails to break $111K \u2013 Is this the end of BTC\u2019s uptrend?<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/pengu-memecoin-rebounds-strongly-but-traders-is-there-a-catch\/\" rel=\"prev noopener\" data-wpel-link=\"internal\" target=\"_blank\">PENGU memecoin rebounds 14%, but traders, is there a catch?<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s massive sell-off could abate as large players opt to borrow against the asset. Peter Brandt warned that&hellip;\n","protected":false},"author":2,"featured_media":175658,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[52,51,16,15],"class_list":{"0":"post-175657","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114664778295396619","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/175657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=175657"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/175657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/175658"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=175657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=175657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=175657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}