Glassnode: Bitcoin Investors Hold $1.2T in Unrealized Profits

Glassnode reports that a super-majority of bitcoin investors now hold $1.2 trillion in unrealized profits, with a strong preference for holding rather than selling at current price levels.
Glassnode: Bitcoin Investors Hold $1.2T in Unrealized Profits
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Key Takeaways

  • Bitcoin investors are holding $1.2 trillion in unrealized profits, close to all-time highs.
  • Glassnode data shows a strong preference for holding, with realized profits declining and long-term holder supply at record levels.
  • Short-term sell pressure has dropped, with current prices not enticing enough to trigger significant selling.

Bitcoin investors are demonstrating increased patience, with the majority now holding $1.2 trillion in unrealized profits, according to Glassnode’s latest report.

The analytics firm noted that, following a price recovery to around $107,000, most investors are refraining from selling, suggesting expectations for higher prices ahead.

This behavior follows bitcoin finding robust support near $98,300, which is close to the average acquisition price for short-term holders—those who have held for less than 155 days.

Glassnode stated:

“HODLing appears to be the dominant market mechanic across a plethora of spending metrics.”

Long term holder supply

The report highlights that realized profits have declined and onchain indicators such as long-term holder supply have reached new highs, reinforcing the trend of holding over selling.

Despite the total unrealized profit nearing its all-time high of $1.3 trillion, the average investor is now sitting on a 125% paper gain.

Declining sell pressure from short-term holders

Glassnode also observed a sharp decline in selling from short-term holders after an uptick near bitcoin’s May all-time high.

This pattern indicates that the current price range, roughly 5.5% below the May 22 record of $111,970, is not enticing enough to trigger widespread profit-taking.

Charles Edwards, founder of Capriole Investments, attributed bitcoin’s inability to break above the $100,000 mark to selling by long-term holders since the launch of spot bitcoin ETFs in January 2024.

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