Profit Taking by Long-Term BTC Holders Is Normal in a Bull Market, Far From Extreme Levels

Analysts have noted that after BTC surpassed the $100,000 mark, long-term Bitcoin holders (LTH) began taking profits. Data from CryptoQuant shows that the “Long-Term Holder Spent Output Profit Ratio” (LTH-SOPR) has significantly increased. This ratio measures the profit levels of long-term Bitcoin investors by comparing the selling price of Bitcoin with the price they initially paid.

Julio Moreno, Head of Research at CryptoQuant, said, “As Bitcoin’s price rises above $100,000, long-term holders (LTH) have been taking profits, as indicated by the LTH SOPR reaching 4. This suggests that the tokens sold by long-term holders have achieved profits four times their original purchase price. However, this is a normal occurrence during a Bitcoin bull market, and the level of profit-taking is still far from being extreme.”