The recent Bitcoin (BTC) Price Rally over $ 90,000 may have some holders watching a race for a new record that topped $ 109,000 hit in January.

However, the path higher may not be so straightforward. The latest Glassnode analysis shows the potential for increased sales pressure from some groups of market participants to around $ 99,900.

For starters, long-term holders-defined by Glassnode as wallets that have kept coins for at least 155 days take over over $ 99,900. This is in line with their historical behavior of sales at price levels that supply approx. 350% paper gains.

“Historically, LTHS begins to distribute more aggressively around a 350% unrealized profit margin, which is in line with a $ BTC price of ~ $ 99.9K. As the market is approaching this level, increased sales of the sales side is likely, which requires a strong demand to absorb it,” Glassnode said in an analysis item on X.

Another source of sales pressure could be wallets acquiring coins early this year when the largest cryptocurrency traded between $ 95,000 and $ 98,000. They weathered sales to $ 75,000 last month and may be tempted to leave their positions at Breakeven or less profit, at least partially. It is in line with the behavioral aspects of trade, which suggests that investors are quick to take gains while sticking to losing positions.

“A large cluster of coins was acquired between $ 95K -$ 98K, which means some $ BTC holders can finish at Breakeven. This combined with rising LTH surplus creates a key resistance zone,” Glassnode said. “A clean breakout could open the road to price discovery over $ 100K.”

Read more: Bitcoin Traders’ Preferred Lotteri Sillons in the first half – $ 300K BTC call