Bitcoin holders in profit reach 88% as profit realization cool down
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Bitcoin’s MVRV pulled back to 1.7,4, a historical support level, signaling cooling profit realization. 88% of the Bitcoin supply was in profit as investors’ expectations shift. Over the past two weeks, Bitcoin [BTC] has recorded significant gains, rising from a local low of $83k to a local high of $97k. The recent price uptick has left most Bitcoin holders in profit. According to Glassnode data, 88% of the Bitcoin supply was in profit at press time. This implies that both short-term and long-term holders are in profit, especially the cohort that acquired BTC from $94k and below. Source: Glassnode With the cohort in profit, losses are now concentrated among buyers in the $95K to $100K range. As profit margins rise, Bitcoin has rebounded from its long-term mean of 75%, signaling a shift in investor expectations. As a result, the market is experiencing less capitulation. This rebound reflects improving sentiment, indicating that demand remains strong enough to absorb profit-taking. This supports the case for a sustained price recovery. In 2024, Bitcoin staged a strong comeback after retesting this mean at an average price of $60K from November to January. Similarly, the current $76K to $95K range appears to be the bottom, where Bitcoin could potentially see another significant surge, based on past trends. Source: Glassnode With investor’s sentiments improving, the current holders are selling less Bitcoin. This was observed by Glassnode, noting that Bitcoin’s MVRV Ratio has pulled back to its long-term mean of 1.74. Previously, this mean has been associated with the consolidation phase. As per the analysis, a pullback signals a cooling of unrealized gains, making it a key support level. Source: CryptoQuant Looking at Bitcoin’s Exchange Netflow, holders are not selling to realize profits despite recently recorded gains. With a realized price of around $93k, most holders…
Filed under: News - @ May 7, 2025 12:16 am