Glassnode: Both short-term and long-term holders of BTC have increased their holdings, but breaking through the $99,000 resistance requires strong buying to digest the selling pressure

On May 7th, Glassnode data shows that both short-term holders (STH) and long-term holders (LTH) of Bitcoin are increasing their holdings. Among them, LTH has continued to accumulate since the beginning of March, and STH has also started to increase its holdings in the past week. Glassnode defines LTH as investors who hold BTC for more than 155 days, and STH as investors who hold less than 155 days. According to its latest weekly report, LTH has increased its holdings of more than 250,000 BTC since the beginning of March, bringing the total holdings of this group to more than 14 million. This shows that market confidence is recovering, and the accumulation momentum has exceeded the risk-aversion tendency of investors.
Glassnode analysis pointed out that while STH is usually in opposition to LTH, they also increased their holdings by more than 25,000 BTC in the past week, marking a reversal of the net reduction of more than 200,000 BTC since February 2025 - a cycle that coincided with the start of Bitcoin's 30% correction. Bitcoin is currently hovering at the $97,000 mark, and this market-wide increase indicates that investor confidence is being repaired. But Glassnode also pointed out that there is a significant resistance level at $99,900, and on-chain data shows that when LTH's unrealized profit reaches 350%, it may trigger a profit-taking. Therefore, it is foreseeable that the selling pressure will intensify as the price approaches this area, and strong buying and selling pressure will be required to maintain the upward momentum.