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Bitwise CEO Hunter Horsely says selling pressure on Bitcoin will drop once the leading crypto by market cap reaches $130K per coin.
“I think once Bitcoin breaks through, e.g., $130-150k, no one is going to sell their Bitcoin,” he said in a June 11 X post.
Bitcoin Selling Volume From Early Buyers “Will Peter Off”
Horsely went on to say that the current selling pressure in the market is mainly from investors who bought BTC at much lower prices, and are now looking at the psychological $100K mark as a strategic exit point.
The Bitwise CEO added that the pressure from those investors will be short-lived. “Once Bitcoin breaks new levels, this will peter off,” he said, referring to the selling activity.
His belief that current sellers are investors who bought in at much lower prices aligns with an earlier observation from on-chain analytics firm Glassnode. Before BTC broke above $100K on May 8, the firm said there was a “notable increase” in older investors selling once the key level was reached.
Bitcoiners Will Find Ways To Access Liquidity Without Selling, Says Horsely
Horsely added that Bitcoin investors will seek alternative ways to access liquidity without selling even as their profit margins potentially soar.
“And from there on, when people need liquidity, they are going to borrow from an ever-growing set of lenders,” he said. This liquidity could further propel BTC’s price, he added, arguing that there won’t be enough Bitcoin to meet the demand.
Saylor recently echoed a similar bullish sentiment. Speaking to Bloomberg on June 10, the Strategy executive chairman said there are around 450 Bitcoin available for sale each day by miners.
Strategy Executive Chairman Michael @saylor says crypto winter is not coming back and Bitcoin is going to $1 million https://t.co/XBYRnZwpTh pic.twitter.com/j6q4qPujOa
— Bloomberg TV (@BloombergTV) June 10, 2025
Saylor subsequently concluded, “At the current price level, it only takes $50 million to turn the entire driveshaft of the crypto economy in one turn.”
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