Bitcoin’s Droll Dance: Profits Plummet While Prices Prance! 💃🕺

by

Ah, the Bitcoin market! Where seasoned veterans are now taking a staggering 89% less profit than they did during the May peak. Quite the conundrum, isn’t it? Prices are frolicking about the same, yet our dear HODLers seem to be clutching their coins tighter than a miser at a charity ball! 💰

Realized Profit: A Dismal Affair for the 1-Year+ Holders

In a delightful little post on X, the analytics wizards at Glassnode have unveiled the latest trend in the Realized Profit of our beloved Bitcoin aficionados. “Realized Profit,” as the name suggests, is the measure of how much profit these investors are actually pocketing when they decide to sell. Quite the novel idea, wouldn’t you say?

This metric, dear reader, sifts through the sordid history of each coin transaction, checking what price it was sold at previously. If the current price is a tad higher than the last selling price, voilà! We have profit realization! It’s like finding a forgotten tenner in your coat pocket—delightful, but not life-changing.

Now, let’s not concern ourselves with the entire userbase’s profits; we’re here to gossip about the 1+ year holders. These are the stalwart investors who have clung to their coins like a cat to a warm lap, refusing to part with them even once in over a year. Statistically, the longer they hold, the less likely they are to sell. It seems we have a gathering of diamond hands, resolute and unyielding! 💎

And here’s a charming little chart from Glassnode, showcasing the trend in Bitcoin Realized Profit for these steadfast HODLers over the past few months:

As the graph so eloquently illustrates, our 1+ year investors experienced a delightful spike in late May, coinciding with Bitcoin’s brief flirtation with $110,000. But alas, shortly after this sell-off, BTC decided to take a nosedive. However, in a twist of fate, it has recently managed to shimmy back above the $109,000 mark! 🎉

Yet, our diamond hands remain as stoic as ever, with the 24-hour simple moving average of their Realized Profit languishing at a mere $13.6 million—down a staggering 89% from last month’s peak of $126 million. One can only wonder if these market veterans are anticipating a grander rally, choosing to HODL with all their might! 🤔

BTC Price: A Flirtation with Fortune

As of this very moment, Bitcoin is prancing around the $109,100 mark, enjoying a delightful 2% increase over the past week. How charming! 🥂

Read More

2025-06-11 12:44