People won't be selling their bitcoin even when it reaches 100k. Bitcoin has seen as a life changer for people's lives. If it breaks 100k, it will jump higher very quickly. I expect it to reaches 100k, then it jumps to 105k+.
People know that a big inflow is hitting the btc ETF everyday. This means institutional investors are buying bitcoin. The only stupid people are those who sold bitcoin when it was mooning. This is because their btc could have traded above 100k.
Talking about the selling pressure of bitcoin, it's just weakening now. Many institutional investors grabbed more btc, and it brings many liquidity. The selling pressure can be eaten so easily by the FOMO of institutional investors.
I wish I can agree with everything you have said but unfortunately, not everyone is thinking like you. There are still people having the mindset that when Bitcoin hits $100k, there will come a major correction before it will start to rise again. These set of people will definitely sell part of their Bitcoin with the intention of buying during the expected correction. They might be right or wrong but that is just their thinking and how to plan to go about managing their Bitcoin holding. I don't actually share this same ideology as I prefer to hold because I don't see any deep correction happening anytime soon. There may be a retest of the 100k price zone after Bitcoin crosses 100k but such retest may not be a deep one, hence not ideal to hope on.
I agree, in an ideal world, we shouldn't be selling our Bitcoin, but then again, everyone has her/his own needing. I mean some guys could be in a emergency situation and so they will have to sell sooner or later. It's not that they like to, but it's the circumstances that is calling and so they will have to do it.
But the majority if there are not emergencies or problems, will simply hold and wait for the price to hit $100k and then see how it goes. It's the beauty of Bitcoin though, it's all o us, we are in total control of it, and no one can decide for us but ourselves.