Bitcoin held above $100,000 for 30 consecutive days — even with a 10% pullback — for the first time ever

Bitcoin has maintained a price above $100,000 for 30 consecutive days, a new milestone interpreted as a bullish signal by analysts despite a recent 10% pullback from its all-time high; analysts suggest this level is becoming a new floor supported by institutional and ETF inflows, potentially setting the stage for a climb towards $120,000-$130,000, although on-chain data indicates long-term holders are selling and demand has slowed.

Analysis

Bitcoin has achieved a significant milestone by sustaining a price above $100,000 for over 30 consecutive days for the first time, a level it last fell below on May 8. This development is widely viewed as a bullish indicator for the digital asset, despite a recent 10% retracement from its all-time high (reached May 22) to $100,428, followed by a recovery to $105,000 and a subsequent rally to $110,000, partly fueled by optimism surrounding U.S.-China trade talks. Technical analysts, such as Read Harvey from Wolfe Research, note that successfully holding above a major resistance level like $100,000, which also aligned with its 50-day moving average during a retest, suggests a potential "launching pad" towards recent highs of $112,000, anticipating further consolidation before a breakout. Ben Kurland, CEO of DYOR, echoes this sentiment, positing that $100,000 is establishing itself as "a new floor" underpinned by institutional flows, ETF inflows, and a maturing investor base, potentially setting the stage for a climb towards the $120,000-$130,000 zone as macro conditions stabilize. However, on-chain data from CryptoQuant indicates that long-term holders increased selling on May 27 when Bitcoin traded near $109,000, with spending since decreasing from approximately 40,000 BTC to 6,000 BTC. Concurrently, Bitcoin's 30-day demand has slowed from 228,000 BTC to 126,000 BTC, which, according to Julio Moreno of CryptoQuant, could moderate the pace of future price appreciation. Tyrone Ross of 401 Financial highlights that while the $100,000 mark is largely psychological, its sustained breach could attract retail investors, whose participation has reportedly been lagging behind institutional and corporate buying. As of Tuesday, Bitcoin was trading around $108,800, approximately 3% below its record, having reached $110,500 earlier in the day.

Key Decisions for Investors

• Investors could consider the sustained $100,000 level as a new support base, potentially indicating further upside towards the $120,000-$130,000 range if current institutional support continues and macro conditions remain favorable.
• Monitor on-chain data for shifts in long-term holder behavior and demand dynamics, as the recent slowdown in demand and selling pressure from long-term holders might signal a period of consolidation or slower price appreciation before any significant breakout.
• Watch for increased retail investor participation, as this could provide an additional catalyst for upward price movement if Bitcoin maintains its position above the $100,000 psychological threshold.