Bitcoin faces mounting selling pressure as long-term holders distribute supply, with analysts warning that failure to hold $110,000 could trigger deeper corrections in an already volatile market.
Bitcoin is trading around $111,711 after weeks of volatility, holding above the $110,000 support level seen as crucial by analysts. Axel Adler’s analysis of UTXO Age Metrics shows long-term holders are distributing coins, with the LTH Aging Velocity at -1.2%, signaling active redistribution. Historically, such behavior has preceded downside pressure, with up to 300,000 BTC potentially entering circulation if trends continue. Technicals show resistance near $114,000 and $118,000, while strong support remains at $108,000. Failure to hold $110,000 may lead to a deeper pullback toward $105,000.