The crypto analytics firm Glassnode says most Bitcoin (BTC) holders are now seeing substantial gains in their investments.

In a new report, Glassnode says that “a super-majority of Bitcoin investors” are currently holding unrealized profits following the flagship cryptocurrency’s recovery to $107,000.

Holders now have an average paper gain of 125%.

“After finding firm support at the Short-Term Holder cost basis of $98,300, a level that often delineates local bull and bear regimes, Bitcoin rebounded to $107,000. This move pushed the majority of investors back into profit, with total unrealized gains reaching a staggering $1.2 trillion.”

The dominant market behavior suggests that investors are unlikely to cash out their gains. The report says the current price level appears less attractive for profit-taking than when Bitcoin breached the three-digit mark.

“Despite this surge in profitability, investor behavior signals a strong preference for HODLing, as the current price range appears insufficient to trigger significant profit-taking. This is reflected in declining realized profits, a continued downtrend in Liveliness, and Long-Term Holder supply climbing to a new all-time high.”

Bitcoin’s market capitalization, which takes into account the digital asset’s circulating supply at the current market price, currently sits at $2.13 trillion. BTC’s realized cap, which values each coin at the last transacted price, is pegged at $958 billion.

The flagship crypto asset is trading for $108,834 at time of writing, up by 2.97% over the past 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The analytics platform Glassnode says that Bitcoin’s (BTC) uptrend remains solid as long as one crucial support area holds.

Glassnode says the data visualization tool Cost Basis Distribution (CBD) heatmap shows Bitcoin has strong support at the “structurally important” zone between the $93,000 – $100,000 range.

CBD is an on-chain metric used to show price areas where investors bought their coins and how much they’re holding. Price zones with dense supply clusters could act as support or resistance levels, as they indicate levels where investors tend to accumulate or offload their holdings.

Glassnode says the $93,000 to $100,000 price area is acting as support for BTC and is keeping the crypto king’s bull market structure intact. However, a move below the level could ignite a sell-off event.

“However, a breakdown below could trigger a deeper correction, especially if holders with a cost basis in this zone begin to capitulate and add to the sell pressure.”

For now, Glassnode says that Bitcoin is currently showing “signs of diminishing profitability and sluggish on-chain activity,” signaling that the crypto king is in a consolidation phase as volatility falls and investor engagement weakens.

“Until we see a pickup in profitability and activity metrics, the likelihood of a breakout to new all-time highs remains limited. For now, the market appears to be digesting prior gains, awaiting fresh momentum and an influx of new demand.”

The analytics firm also says that Bitcoin’s push to a new all-time high in May was not accompanied by an increase in BTC spot volume and the volume levels were lower than what was recorded earlier in the current bull market.

Bitcoin is trading at $107,256 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Analytics platform Glassnode says one Bitcoin investor cohort is suddenly selling the most BTC for realized gains.

According to the analytics platform, those holding onto Bitcoin between six and 12 months are abruptly locking in massive gains at a rate exceeding all other cohorts, raking in a $904 million profit on Monday.

“Last week, we highlighted how BTC wallets that held greater than 12 months were the primary profit-takers.

But that trend has now flipped. [On Monday]: less than 12 months cohorts accounted for 83% of all realized profit. Six to 12-month holders alone realized $904 million – the second-highest daily profit year to date.”

Glassnode says the same six-to-12-month investor cohort netted more profits two months ago.

“Mid-cycle buyers (six-12 months) stepped up on June 16th with $904 million in realized gains. That’s just behind the April top in terms of daily profits – and shows that Q4’24 buyers are now distributing heavily.”

However, the analytics firm says that the selling of Bitcoin for profits is slowing way down for long-term BTC holders.

“Meanwhile, greater than 12-month holders realized just $324 million, a notable drop from the relentless profit realization in May or even the last week’s peak of around $1.2 billion.

Bottomline: seasoned BTC holders are stepping back for now – and newer coins are now driving market sell pressure.”

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Analytics platform Glassnode is outlining the possible path ahead for Bitcoin (BTC) amid a period of intense profit-taking.

According to the analytics platform, Bitcoin is facing growing resistance after reaching a new all-time high last month.

The resistance can be attributed to exhaustion from profit-taking by long-time Bitcoin holders and exhaustion from buyers who purchased earlier, according to Glassnode.

Over the short term, the intensifying profit-taking could point to a distribution phase and not a fresh breakout.

“Altogether, the market appears to be at a crossroads, shaped by elevated sell pressure, maturing bullish momentum, and demand that must prove itself resilient. The coming weeks will be crucial in determining whether this is a mid-cycle consolidation or the start of a broader top formation.”

Glassnode says the market is experiencing the fifth major profit-taking wave in the current cycle, with the realized profits per day having risen to $1.47 billion.

“The most notable selling pressure has come from cohorts who accumulated during key historical ranges: $25,000 – $31,000 and $60,000 – $73,000. These groups, many of whom held through multiple volatility phases, are now contributing to the supply overhang that appears to be capping further upside, at least in the short term.”

The continued selling pressure from long-term holders is raising the risk of a short-term correction, according to the analytics platform. The first on-chain support zone for Bitcoin, according to Glassnode, is around $103,700, while the second one is at around the $95,600 price. If the latter is breached, Glassnode says it could be a confirmation of a potential “broader risk reset.”

Bitcoin is trading at $105,007 at time of writing.

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The latest rally sending Bitcoin (BTC) to new all-time highs is showing a lot of strength as one key metric reaches unprecedented levels, according to the digital asset analytics firm Glassnode.

Glassnode says that Bitcoin’s Realized Cap, which records the price at which each coin was last moved and aims to gauge how many holders are in profit or at a loss, is hitting a new all-time high.

“Strength in the digital asset market remains robust with Bitcoin continuing to consolidate just beneath its all-time high of $109,000. The elevation in price has raised the profitability of the vast majority of market investors, with many seizing the opportunity to lock in profits. As a result, capital inflows have increased markedly, pushing the Realized Cap above $900 billion for the first time, a historic milestone that underscores the depth of liquidity in the market.”

Glassnode also says that Short-Term Holders (STHs), those entities that have held their coins for less than 155 days, have sold at massive profits in the last month, while Bitcoin is absorbing the selling pressure.

“For the Short-Term Holders, the improvement in their portfolio values has directly translated into a notable increase in spending activity, with the cohort realizing over $11.4 billion of profit across the last month.”

Glassnode reports on the social media platform X that ever since Bitcoin plummeted to a local low of around $74,000 in early April, the market value to realized value (MVRV) metric – which gauges the market’s sentiment and valuation of a crypto asset – has soared for both STHs and Long-Term Holders (LTHs).

A rising MVRV means “holders are sitting on more unrealized profit – boosting confidence and reducing sell pressure,” according to the analytics firm.

“Since the $74,000 low:

• MVRV: 1.74 to 2.33 (+74%  to +133%).
• STH MVRV: 0.82 to 1.13 (from -18% loss to +13% gain).
• LTH MVRV: 2.91 to 3.30 (+191% to +230%).

Profitability is up across the board, boosting confidence and supporting the rally.”

Bitcoin printed a new all-time high Wednesday, briefly breaking past $110,000 for the first time in its history.

The top crypto asset has since retraced, trading for $109,686 at time of writing, up 2.6% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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On-chain metrics suggest the ongoing Bitcoin (BTC) rally is looking durable, according to the crypto analytics firm Glassnode.

The firm notes on the social media platform X that “first buyers and momentum buyers” continue to demonstrate strong engagement, while profit takers display only a moderate level of activity.

“This is constructive, as it suggests ongoing demand from new and trend-following participants without significant distribution pressure, supporting the durability of the recent rally.”

Glassnode also notes that US spot Bitcoin exchange-traded funds (ETFs) recorded a net inflow of 31,323 BTC worth $2.9 billion last week, representing the fifth-largest weekly BTC inflow on record and the third-largest in terms of dollar value.

The firm says the inflow highlights “renewed institutional engagement with Bitcoin, even at elevated price levels.”

Bitcoin is trading at $95,370 at time of writing. The top-ranked crypto asset by market cap is up nearly 1.5% in the past 24 hours.

In terms of Ethereum (ETH), Glassnode notes that the second-largest crypto asset by market cap is demonstrating its “first meaningful uptick” in first buyers since February.

“However, Profit Takers are also becoming more active, providing context for the recent stall in ETH price recovery.”

ETH is trading at $1,827 at time of writing and is up more than 3% in the past 24 hours.

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New data from the market intelligence firm Glassnode suggests that Bitcoin (BTC) could be nearing an early bear market.

In a new thread on the social media platform X, Glassnode says that the crypto king is flashing signs that historically predate its entering into a bearish phase.

According to the crypto analytics platform, short-term holders hanging on to unrealized losses relative to BTC’s current price are analogous to the early bear market conditions present during Bitcoin’s previous cycles.

“Bitcoin unrealized losses normalized by percentage drawdown show that short-term holders are already holding substantial losses relative to the current correction depth – comparable to early bear market conditions in past cycles.”

Glassnode goes on to note that while long-term holders are in profit, market conditions could cause them to see their profits dwindle, another sign of an upcoming bearish phase.

“On the other hand, long-term holders (LTH) are still broadly in profit, but as BTC top buyers age into LTH status, loss absorption may rise. Historically, this shift often marked the confirmation of a bear market, though no such regime is evident yet.”

Short-term Bitcoin holders are traders who have held on to their tokens for less than 155 days, while long-term holders are defined as those who have kept their digital assets inactive for 155 days or longer.

According to Glassnode, one metric, which measures the directional dominance of value flowing in or out of a network, shows that the top crypto asset by market cap is at a crucial crossroads in terms of market direction.

“Meanwhile, volatility-adjusted net realized profit/loss for BTC has reverted to its long-term median. This historically marks the boundary between bull and bear regimes, placing the market at a critical juncture for determining direction.”

Bitcoin is trading for $84,557 at time of writing, a fractional decrease during the last 24 hours.

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The analytics firm Glassnode has revealed how the trend in the Bitcoin Realized Loss could imply sellers may be starting to reach exhaustion.

Bitcoin Realized Loss Is Showing Signs Of Saturation

In a new post on X, Glassnode has talked about how the Bitcoin capitulation has looked during the latest price drawdown. The on-chain indicator of relevance here is the “Realized Loss,” which measures, as its name suggests, the total amount of loss that the investors on the Bitcoin network as a whole are ‘realizing.’

The metric works by going through the transaction history of each coin being moved or sold on the blockchain to see what price it was transacted at prior to this. If the previous selling price is more than the current spot price for any coin, then its sale is said to be contributing to loss realization.

The amount of loss being realized in the sale is, of course, equal to the difference between the two prices. The Realized Loss calculates this value for all transactions occurring on the network and sums them up to find the total situation.

Like the Realized Loss, there is also an indicator known as the Realized Profit. This metric naturally keeps track of the sales of the opposite type (that is, where last transfer value is lower than the latest spot price).

Now, here is the chart for the Bitcoin Realized Loss shared by the analytics firm that shows the trend in its 6-hour rolling value over the past year:

Looks like the value of the metric has observed large spikes in recent days | Source: Glassnode on X

As is visible in the above graph, the Bitcoin Realized Loss observed several large spikes during the bearish price action in February and March, suggesting the investors panic sold their underwater coins.

The recent FUD around tariffs has triggered a continuation of the drawdown for the asset and predictably, the holders have shown sizeable capitulation now as well.

But interestingly, the scale of the 6-hour Realized Loss has been notably lower than the spikes from before. This could imply capitulation is reaching a point of saturation, which, according to Glassnode, may be an early sign that the sellers are becoming exhausted. If so, then it’s possible that BTC may be close to some sort of bottom.

In the same thread, the on-chain analytics firm has also discussed about the recent trajectory in the market cap of the altcoins (that is, the cryptocurrencies excluding Bitcoin, Ethereum, and the stablecoins).

The trend in the combined market cap of the altcoins over the last few years | Source: Glassnode on X

From the chart, it’s apparent that the altcoin market cap was sitting at an all-time high of $1 trillion in December 2024, but today the metric has shrunken to $583 billion. “Assets further out on the risk curve have shown heightened sensitivity to liquidity shocks, leading to severe sector-wide devaluation,” notes Glassnode.

BTC Price

Bitcoin has been making an attempt at recovery during the last couple of days as its price has returned to $81,900.

The price of the coin seems to have been rising recently | Source: BTCUSDT on TradingView

Featured image from Dall-E, Glassnode.com, chart from TradingView.com

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