Hunter Horsley Predicts Selling Pressure Will Vanish as BTC Breaks New Highs

As Bitcoin (BTC) continues to trade near its all-time high, Bitwise CEO Hunter Horsley believes that sell pressure will fade significantly once the asset moves past the $130,000–$150,000 price range. In a post on X on Wednesday, Horsley argued that the bulk of current selling is being driven by early buyers taking profits — but that this behavior will dissipate as the price enters new territory.

“Once Bitcoin breaks through $130K–150K, no one is going to sell their Bitcoin,” Horsley wrote, calling the current sell pressure a temporary phase driven by legacy holders.

I think once Bitcoin breaks through eg $130-150k, no one is going to sell their Bitcoin.

Right now at $100k, it seems individuals who hold a lot of Bitcoin that was bought a long time ago at very low prices, are selling some.

That said, once Bitcoin breaks new levels, this…

— Hunter Horsley (@HHorsley) June 10, 2025

Current BTC Price Still Near All-Time High

At the time of writing, Bitcoin is trading at $108,698, just $3,272 below its all-time high of $111,970 reached on May 22, according to CoinMarketCap data. The asset has been trading sideways in recent days, with analysts pointing to a mix of profit-taking and institutional accumulation as driving factors.

Profit-Taking From Early Bitcoin Investors

Horsley said that today’s sellers are mostly individuals who acquired Bitcoin at much lower prices years ago and are now realizing gains around the psychologically significant $100,000 level.

“Right now at $100K, it seems individuals who hold a lot of Bitcoin that was bought a long time ago at very low prices are selling some,” he said.
“Once Bitcoin breaks new levels, this will peter off.”

This view aligns with earlier on-chain data from analytics firm Glassnode, which warned in early May of a “notable increase” in long-term holders selling after Bitcoin crossed $100,000 for the first time.

Average Long-Term Holder Up Over 200%

According to crypto analytics platform Bitbo, the average Bitcoin holder who has held the asset for more than 155 days is currently sitting on a 215% profit, with an average purchase price of $34,414.

While this margin offers plenty of incentive to sell, Horsley said most long-term Bitcoiners will eventually seek alternative liquidity options, such as borrowing, rather than liquidating their positions.

“From there on, when people need liquidity, they are going to borrow from an ever-growing set of lenders,” he explained.

Liquidity Without Selling: The Rise of Bitcoin Lending

As more institutional-grade lending platforms emerge, Horsley believes long-term holders will increasingly choose to collateralize their Bitcoin rather than sell, especially as the asset becomes more widely accepted as high-quality collateral.

This shift would reduce active supply on the market and further contribute to upward price pressure, particularly as demand continues to grow.

“There’s simply not going to be enough Bitcoin,” Horsley concluded.

OTC Desks Show Signs of Supply Tightening

Supporting Horsley’s view, Cointelegraph recently reported that over-the-counter (OTC) desks — platforms where institutional investors execute large, off-exchange trades — are beginning to experience supply constraints. This is often seen as a leading indicator of rising demand in illiquid environments.

Strategy’s Michael Saylor: Daily BTC Supply is Shrinking

Bitwise’s outlook echoes that of Michael Saylor, executive chairman of Strategy, who noted on June 10 that only 450 Bitcoin are mined per day, representing around $50 million in daily available supply at current prices.

“If that $50 million is bought, then the price has got to move up,” Saylor said.
“At the current price level, it only takes $50 million to turn the entire driveshaft of the crypto economy in one turn.”

Saylor has previously warned that institutional and sovereign accumulation is absorbing much of this natural supply, adding to liquidity pressure and enhancing Bitcoin’s scarcity narrative.

Mike Novogratz: $130K–$150K Possible This Year

The $130K–$150K price range is also gaining traction among other crypto executives. Galaxy Digital CEO Mike Novogratz recently said that Bitcoin could reach that level by end of 2025, driven by:

• Strong ETF inflows

• Rising geopolitical uncertainty

• Diminishing daily supply

• Nation-state adoption

While the timing remains speculative, the consensus among top Bitcoin advocates is clear: once BTC convincingly breaks above its current range, the market could enter a new phase where holders are far less willing to sell, regardless of short-term gains.

Conclusion

Bitwise CEO Hunter Horsley’s forecast that no one will sell Bitcoin after it crosses $130,000 reflects a broader sentiment in the crypto space — that the current selling pressure is primarily from early adopters, and that a supply crunch looms on the horizon.

With long-term holders increasingly turning to borrowing instead of selling, and institutional inflows continuing to absorb market supply, the conditions for a sustained rally are building. Whether or not Bitcoin hits $130K or beyond in 2025, the structure of the market may soon change — from one led by profit-taking to one defined by supply scarcity and strategic accumulation.