Bitcoin sees more upside above $100K driven by long-term holder dominance: CryptoQuant

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Key Takeaways

Bitcoin surpassed $100,000 as long-term holders control 74% of supply.
Bitcoin’s market dominance reaches 57%, solidifying its status as the largest crypto asset.

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

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

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

This dynamic highlights the significant role of LTHs, who control 74% of Bitcoin’s supply, signaling sustained market confidence and reduced selling pressure.

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

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

The $100K milestone follows key developments, including the appointment of former SEC commissioner Paul Atkins as chair and Federal Reserve Chair Jerome Powell’s remarks comparing Bitcoin to gold.

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

Bitcoin dominance has also surged to 57% following the $100K breakthrough, and its market capitalization has surpassed $2 trillion.

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