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Bitwise CEO Hunter Horsely says sell pressure on Bitcoin’s price 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 Sell Volume From Early Buyers “Will Peter Off” Horsely went on to say that the current sell 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...

The asset management giant Bitwise has recently predicted an array of new timelines and forecasts concerning the cryptocurrency domain. As the current Web3 domain gears up for meteoric changes, the asset management firm took to X to share some staggering forecasts, going a mile ahead to claim that Bitcoin is poised to trade above $1M by the year 2029. Also Read: $1000 in Dogecoin Today: What Could It Be Worth by 2030? Bitwise Predictions: Bitcoin To Overtake Gold, Coinbase Stock To Trade Above $700 Image Source: Watcher Guru The asset management giant Bitwise has made a series of new predictions, speculating that the cryptocurrency market will undergo a massive change in the coming years. As 2024 approaches its end, Bitwise predicted a series of new events and timelines that have set the speculatory whims to run on turbo mode. According to Bitwise, Bitcoin is poised to trade above $200,000 in 2025. In addition, Bitcoin ETFs are set to attract more momentum and traction next year, invit...