According to the latest research from blockchain analytics firm CryptoQuant, Bitcoin’s sustained bull run may require a climb to approximately $140,000 to match the realized profits recorded by long-term holders (LTHs) during earlier market peaks. The analysis highlights that current LTH profit levels remain below those achieved during this year’s most profitable periods.
The Market Value to Realized Value (MVRV) ratio for LTHs currently stands near 220%, significantly trailing the 300%-350% range observed during profit-taking peaks this year. This gap suggests LTHs—investors holding Bitcoin for over 155 days—have exercised caution in realizing gains at current prices.
CryptoQuant indicates that approaching the $140,000 threshold would be necessary to restore elevated profit-taking incentives. Until then, restraint from this critical investor cohort could exert temporary downward pressure and limit significant price advances despite bullish sentiment.
The analytics firm maintains that Bitcoin’s underlying bull market structure remains fundamentally intact, with broad investor confidence in its long-term value proposition persisting through current consolidation phases.