This investor group should be closely monitored for sustainability above $100,000 in Bitcoin! - Coin Bulletin

With Donald Trump's victory, Bitcoin's price rose from $67,000 to $100,000, while the sales of long-term investors and the increasing interest in ETFs will shape the future price movements of Bitcoin.

According to Checkonchain data, the Bitcoin futures trading volume reached approximately 120 billion dollars on November 17, hitting an all-time high and nearly doubling after the election. However, since then, the futures trading volume has stabilized and balanced around 100 billion dollars.

Similar situation was experienced in spot trading volume and the volume increased from approximately 6 billion dollars to 12 billion dollars. In addition, the trading volume of US exchange-traded funds (ETFs) traded on spot also increased, reaching 4 billion dollars daily.

Bitcoin continues to remain in a key trading range around $100,000 and often sees a move above this level followed by a drop back below. Much of this is related to selling pressure from long-term holders (LTH) who have held Bitcoin for over 155 days. LTHs are said to have sold 843,113 BTC since September.

What it takes for Bitcoin to sustain above 100k dollars

For Bitcoin to rise above $100,000, it is stated that LTHs need to stop selling tokens or larger groups need to enter this area and make purchases.

Meanwhile, short-term investors (STH) holding for less than 155 days accumulated 1,081,633 BTC. This means that while LTH sold approximately 9,960 BTC per day, STH accumulated 12,432 BTC.

To better illustrate the difference in trading volume between long and short positions, a comparison was made with MicroStrategy (MSTR), one of the industry's major players and self-proclaimed Bitcoin development company.

Since September, MicroStrategy has accumulated a total of 197,250 BTC by purchasing approximately 2,168 BTC daily. Meanwhile, US ETFs have accumulated a total of 205,000 BTC by purchasing around 2,253 BTC daily. The Bitcoin balance of US ETFs has increased from 916,000 BTC to 1.12 million BTC.