BTC Long-Term Holders Realize High Profits: Is This a Market Top Signal?
Main Idea
Long-term Bitcoin holders are taking profits following its all-time high, but analysts suggest the market peak has not yet been reached, as key indicators like the LTH SOPR remain below historical top signals.
Key Points
1. Long-term holders (LTHs) are increasing profit-taking activities, with the LTH Spent Output Profit Ratio (SOPR) reaching its highest level in 2025 but still below the 4.0 threshold that historically signals a market top.
2. The current LTH SOPR level of slightly above 2.5 indicates a heated market but not an overheated or final top, according to analyst Gaah.
3. Whale inflows to exchanges have surged, with monthly averages increasing by approximately $17 billion, coinciding with Bitcoin's price reaching $123,000.
4. Continued profit-taking by whales, LTHs, and retail investors could lead to market consolidation or a deeper correction before the next upward movement.
5. Despite the profit-taking, CryptoQuant notes some easing in market conditions, suggesting potential stabilization.
Description
Following bitcoin hitting its current all-time high (ATH), long-term holders (LTHs) have been collecting profits. This comes as the cryptocurrency consolidates to cool off from the latest rally. The intensity of profit-taking from LTHs raises speculation that the market may have reached a peak for this cycle. However, Gaah, a pseudonymous analyst at the market intelligence platform CryptoQuant, believes the top is not yet in. LTHs Take Profits According to Gaah, the LTH Spent Output Profit Ratio...
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