$90M Daily? What Would It Mean to Sustain Bitcoin Price at $100,000
According to options trader Theta Seek, for the price of Bitcoin to remain stable at that price point, investors need to invest $90 million in BTC every day. Given that miners typically sell what they mine on a regular basis, the assumption that the selling pressure on Bitcoin may reach $90 million when BTC hits $100,000 is reasonable.
The trader said: The trader added that hodlers—a term used to describe long time Bitcoin holders—have not sold throughout the past three all-time highs of BTC, noting: Market data from Glassnode similarly suggests hodlers have been consistently accumulating Bitcoin ever since the price of BTC flash-crashed to $3,600. In other words, the perception of Bitcoin as an established store of value has to increase and institutional, retail, futures and options market activity will have to reach new levels.