According to Alexander Blume, Bitcoin's price stagnation above $100K stems from speculators reducing risk amid geopolitical turmoil while long-term investors accumulate. Glassnode data indicates short-term holders realized $904 million in profits recently, intensifying selling pressure. Markus Thielen added that long-term holders are selling into ETF-driven demand, absorbing inflows and capping gains. Miners offloaded approximately 30,000 BTC in 20 days, as per IntoTheBlock data. Jimmy Yang noted diversification into equities and gold is prompting some holders to divest, with key levels at $102,000 support and $106,000 resistance.