1.1M Bitcoin Bought Near ATH Is Still Untouched – Recent BTC Holders Hold Firm?

Bitcoin has experienced significant volatility in recent days, navigating through bearish sentiment and market uncertainty. Despite this, BTC stays strong above the $100K mark, holding a key psychological and technical level. Investors are divided on whether Bitcoin is preparing for a surge into price discovery or a deeper correction, as speculation continues to drive market sentiment.

Nevertheless, on-chain data suggests long-term confidence is growing. Crypto analyst Maartunn from IntoTheBlock shared key insights revealing that over 1,100,100 BTC has transitioned from the <1 Month to 1-12 Month age band. Because of this a significant slice of recently acquired Bitcoin—bought near $100K and better—has not been immediately sold but has as a substitute aged into the subsequent holding cohort. This behavior signals strong HODLing activity from newer participants, suggesting that many investors remain confident in Bitcoin’s long-term potential.

As Bitcoin consolidates near all-time highs, investors are watching key resistance and support levels closely. If BTC holds above $100K and reclaims $103,600, a push toward latest all-time highs might be imminent. Alternatively, losing the $100K level could introduce further downside risks, resulting in a deeper market correction.

Bitcoin Consolidates Below Key Levels

Bitcoin has faced days—if not weeks—of uncertainty, consolidating below the $110K mark, a psychological level that investors imagine could trigger the subsequent major move. While BTC has yet to check this price, market participants closely monitor key support and resistance levels to find out Bitcoin’s next direction.

Crypto analyst Maartunn shared on-chain metrics on X, revealing that over 1,100,100 BTC has transitioned from the <1 Month to 1-12 Month age band. This data suggests that a significant slice of recently acquired Bitcoin—bought near $100K and better—has not been immediately sold but has moved right into a longer-term holding category. This behavior indicates HODLing activity amongst newer investors, showing confidence in Bitcoin’s long-term value despite recent price fluctuations.

Bitcoin balance change by time held | Source: Maartunn on X

Right away, the $100K level stays essentially the most critical price point out there. Analysts suggest that holding this level is important for BTC to proceed its bullish trend. If Bitcoin fails to carry above $100K, a deeper correction could follow, resulting in prolonged consolidation or perhaps a short-term bearish phase. Nevertheless, if BTC stays stable above this mark, it could provide the muse for further price appreciation in the approaching weeks.

Unless BTC sees further drops below $100K, this trend suggests a robust accumulation phase, which could fuel the subsequent bullish leg toward price discovery.

BTC Faces Key Resistance

Bitcoin is currently trading at $102,300 after days of massive volatility and repeated tests of the $100K demand zone. Despite the uncertainty and bearish sentiment, BTC has managed to carry its ground, showing resilience at this significant psychological level.

BTC facing crucial resistance at $103,600 | Source: BTCUSDT chart on TradingView
BTC facing crucial resistance at $103,600 | Source: BTCUSDT chart on TradingView

Nevertheless, for bulls to take care of control, Bitcoin must reclaim the $103,600 level as soon as possible. This supply zone has been acting as a robust resistance, stopping BTC from making a decisive move higher. If BTC pushes above this level and holds it as support, a move toward all-time highs would turn out to be more likely within the short term.

On the flip side, if Bitcoin fails to reclaim $103,600, it could face renewed selling pressure, pushing it back toward lower demand levels. The market has already seen a robust defense of the $100K mark, but one other test could weaken this support. If BTC drops below $100K, it’ll signal a deeper correction phase, potentially resulting in prolonged consolidation before the subsequent attempt at price discovery.

Featured image from Dall-E, chart from TradingView

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