Long-term holders (LTHs) of Bitcoin are realizing profits at a higher rate than short-term holders, with LTHs cashing out nearly $1 billion daily compared to $320 million by short-term holders.
This trend of long-term holders taking the lead in profit-taking during market peaks has been observed since the 2015–2018 cycle, indicating a maturing market with a shift towards conviction-based investing over short-term speculation.
Current data reflects a trend where older investor groups, particularly those holding Bitcoin for over a year, are dominating realized profits, suggesting a more developed top structure in the market.
Analysis indicates that high-conviction, long-standing investors are driving the recent wave of selling, potentially shaping a confirmed top for the current market cycle.