Bitcoin is approaching a new record high, with its price exceeding $97,500 for the first time since February 2023. Key analysis suggests that long-term holders (LTHs), who own Bitcoin for more than six months, are on the verge of realizing significant profits, potentially leading to a sell-off. This comes as LTH unrealized profits are nearing 350%, a level historically linked to selling pressure. Glassnode, an onchain analytics firm, warns that if the price crosses $100,000, this could trigger substantial profit-taking from LTHs. The potential for sell pressure is significant, potentially impacting market dynamics and necessitating strong demand to sustain any upward momentum.