Bitcoin Sees More Upside Potential Above $100,000 Due to Holders’ Long-Term Dominance: CryptoQuant

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Bitcoin broke $100,000 for the first time early Thursday, entering a new phase of price discovery.

While Bitcoin’s price action could trend in either direction, a CryptoQuant analyst suggests that long-term holders could be a key driver of the bullish momentum.

According to CryptoQuant verified analyst Crazzyblockk, long-term holders (LTHs) hold over 14.5 million BTC, while short-term holders (STHs) hold nearly 5 million BTC.

This dynamic highlights the significant role of LTHs, which control 74% of Bitcoin supply, signaling continued market confidence and reduced selling pressure.

Historically, bull market peaks have seen short-term holder participation exceed 80% due to speculative demand.

In contrast, in the current cycle, only 52% of the realized cap is held by STHs, suggesting room for further growth as speculative selling remains limited.

The $100,000 milestone follows major developments including the appointment of former SEC Commissioner Paul Atkins as chairman and Federal Reserve Chairman Jerome Powell’s comments comparing Bitcoin to gold.

These events have renewed Bitcoin’s status as a hard asset and sparked new market interest.

Bitcoin’s dominance has also increased to 57% after breaking through $100,000 and its market cap has exceeded $2 trillion.

This milestone further cements Bitcoin’s position as the seventh most valuable asset globally, surpassing Saudi Aramco and silver in overall valuation.

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