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Bitcoin long-term holders’ realized profit is currently around 72% to 78%, well below the roughly 350% recorded during market overheating in December 2024, according to a CryptoQuant analysis.
CryptoQuant added that BTC long-term holders’ realized price has continued to rise to around $48,000-$50,000. That suggests investors who bought BTC at relatively higher prices have, over time, entered the long-term holder cohort, gradually lifting the group’s average cost basis. The firm said the current market looks closer to a “mid-cycle reset” than to a cycle top. It noted that in past transitions from bull markets to bear markets, long-term holders absorbed substantial unrealized losses and MVRV came under heavy pressure, while the current market is showing a reduction in profit size rather than those kinds of extreme conditions.