This cycle, long-term Bitcoin investors have cashed out 3.27M BTC, exceeding the realized gains recorded in 2021.

Bitcoin Long-Term Holders Realize 3.27M BTC Profits, Exceeding 2021 Cycle

Data from Glassnode shows Bitcoin (BTC) long-term holders (LTHs) have realized 3.27 million BTC in profits this cycle, surpassing the 2021 bull run and highlighting increased sell-side pressure.

LTHs, defined as investors holding BTC for at least 155 days, have now extracted more gains than in nearly every prior cycle, with only the 2017 bull run exceeding this amount at 3.93 million BTC. In comparison, the 2021 cycle recorded just over 3 million BTC realized.

Measured in USD, these gains are substantial. Bitcoin’s price has increased roughly 100-fold since 2015, meaning the dollar value of profits realized today is far higher than in previous cycles. Much of the selling pressure comes from dormant “OG” coins re-entering the market.

Recent activity underscores this dynamic: about 80,000 BTC was listed for sale at Galaxy, while another 26,000 BTC became active, totaling roughly 100,000 BTC. This contributed to a slight market correction, reflecting increased liquidity.

ETFs and broader market participation have further supported this rotation of capital, signaling that institutional mechanisms are playing an increasingly pivotal role in late-cycle Bitcoin market dynamics.