In a report that will surely raise some eyebrows (and maybe even a few heart rates), Glassnode, the well-known analytics firm, suggests that Bitcoin long-term holders (LTHs) have already reaped more profit in this cycle than in most of the previous ones. That’s right, these HODLers are sitting on a goldmine and they’re not even breaking a sweat.
Bitcoin Long-Term Holder Profit-Taking – The Ultimate Indicator of a Bull Market’s End?
According to Glassnode’s latest weekly findings, the cumulative profits taken by these long-term holders have been quite remarkable. Now, who are these LTHs, you ask? Well, these are the noble warriors of the Bitcoin kingdom – those brave souls who have held onto their BTC for more than 155 days. The longer they hold, the less likely they are to part with their precious coins. These folks are the ‘diamond hands’ of the market, having seen enough to know that patience is more than a virtue – it’s a profit-making machine.
But don’t be fooled by their silence – these holders do eventually cash out. Over time, the temptation of those juicy profits becomes too much for even the most steadfast to resist. It’s like waiting for a bus you know is coming, but when it finally does, it’s worth the wait. And as these LTHs rake in their rewards, it’s often a clear indicator that the cycle is nearing its peak.
One way to keep track of this is through the Realized Profit indicator. And let’s just say, the chart below tells a tale of profits that even the most seasoned investors would envy.
Glassnode starts the clock on these LTH profit-taking episodes when Bitcoin first sets a new all-time high (ATH) in each cycle. Why? Because that’s when these HODLers start ramping up their selling. As long as demand keeps pouring in, the bull run continues. But once the demand slows down, well, that’s when the party ends. You can clearly see that the LTH Realized Profit has now reached a staggering 3.27 million BTC in this cycle – more than any cycle except for the legendary 2017 bull run.
Could this mean Bitcoin is nearing the end of this cycle? Maybe. But as always, in the world of crypto, nothing is certain.
Another metric that suggests we’re nearing the top is the Percent Supply in Profit. Let’s take a look.
In this chart, you’ll see that the Bitcoin Percent Supply in Profit has exceeded one standard deviation above its mean on 273 days during this cycle. This is the second-highest figure ever recorded, only surpassed by the 2016-2018 cycle. So, it’s looking pretty likely that Bitcoin is riding high on the greed wave. Will it crash? Who knows. But hey, as the saying goes – “what goes up, must come down” – right?
While both of these metrics point to an impending Bitcoin peak, there’s still a chance that this cycle could be different. Maybe we’re in for a surprise twist. Guess we’ll just have to wait and see.
BTC Price
As of writing, Bitcoin is trading around $113,400. It’s seen a slight dip of almost 4% over the past week. But let’s not panic yet. The ride isn’t over until it’s over.
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2025-08-22 03:43