Bitcoin nears the $100k milestone as Long-Term Holders (LTH) distribute 507k BTC, marking a significant yet smaller sell-off compared to March's 934k BTC. LTHs are locking in a record $2.02B in daily profits, driven by coins aged 6 months to 1 year. This trend suggests swing traders are capitalizing on recent market gains. Despite the sell-side pressure, the market's robust demand side is crucial for absorbing the supply and sustaining price growth. As the market navigates this price discovery phase, the balance between profit-taking and demand will be pivotal. 📈🔍