After a sudden pullback from its all-time high, Bitcoin’s price has continued its downward trend, retesting the $109,000 threshold. While the flagship crypto asset seems to have found stability above the $111,000 mark, on-chain data has revealed a massive uptick in realized profits following its recent surge to new highs.

Massive Profit-Taking Among Long-Term Bitcoin Holders

Bitcoin has had quite a remarkable price performance this cycle, breaking key boundaries and setting multiple all-time highs. In light of this significant upward price action, long-term BTC holders, often regarded as seasoned investors, appear to be cashing in their coins like never before. Particularly, long-term holders realized profits have risen sharply to levels that eclipse past bull market cycles. 

Glassnode, a popular financial and on-chain data analytics platform, reported the substantial rise in realized profits among these key investors in a recent post on the X platform. This increase demonstrates the unwavering faith of seasoned investors who have persevered through years of turmoil and are currently enjoying record profits. 

While it underscores Bitcoin’s maturing market structure, it also signals shifting dynamics in investor mood. Such development implies that seasoned holders are establishing the tone for what may turn out to be a defining chapter in BTC’s ongoing evolution. 

Go to Source to See Full Article
Author: Godspower Owie

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details