On-chain analyst: Bitcoin long-term holders profitable for 4 years, average gain 72%
- —Long-term holders' average cost basis is $48,600
- —Bitcoin trades roughly 72% above that level
- —Holders have been in profit since January 2023
- —Since August the cost basis fell at most 0.34% per week
Why it matters: The long-term holder cost basis is a key gauge of seller pressure: a faster decline could signal the start of distribution.
Source: Bloomingbit
More on this
Markets · Oct 4Glassnode: Long-Term Bitcoin Holders Stay Profitable Through Entire Cycle for First Time
Markets · Oct 1Glassnode: Long-Term Holders Drive 55% of Bitcoin Realized Profit as ETF Inflows Slow
Markets · Oct 6Analyst: Bitcoin long-term holders cut holdings for 7th straight week, market absorbs supply