Bitcoin Holders Gain as Market Shows Bullish Signs
Key Takeaways
- Long-term Bitcoin holders (LTHs) are currently seeing approximately 85% profit.
- Metaplanet has purchased 330 BTC worth 28.2 million USD.
- This brings Metaplanet’s total holdings to 4,855 BTC.
- Indicators suggest continued bullish behaviour among LTHs.
- A drop in Bitcoin’s price below 84,500 USD could trigger a correction.
Long-Term Holders Remain Optimistic
Despite stagnating price movement over the past two months, long-term Bitcoin holders (LTHs) remain optimistic. Currently, this group is realizing an average profit margin of around 85%. This is reflected in the SOPR (Spent Output Profit Ratio), which stands at approximately 1.85. A value above 1 indicates that coins are being sold at a profit.
Realized Price vs. Spent Price
The average purchase price of LTHs, known as the “Realized Price,” is currently around 27,000 USD. In comparison, the current selling price (“Spent Price”) is about 40,000 USD. This results in a profit/loss ratio of 3.1 — a significant increase from the recent value of 1.9. Such a ratio signals strong market confidence.
No Signs of Capitulation
Historically, during bear markets, Bitcoin’s price often falls below the Realized Price of LTHs, leading to significant losses. In such phases, the SOPR can drop to as low as 0.4 — a sign of capitulation. Currently, the opposite is true: LTHs continue to actively accumulate. A recent example is Metaplanet’s latest transaction.
Metaplanet Increases Bitcoin Holdings
Japanese company Metaplanet recently acquired 330 BTC worth 28.2 million USD. This brings its total holdings to 4,855 BTC, currently valued at approximately 500 million USD. This investment highlights institutional investors’ confidence in Bitcoin’s long-term potential.
Indicators Suggest Longer Holding Periods
Two additional metrics, Coinday NVT (Network Value to Transactions) and RVT (Realized Value to Transactions), are also trending upward. These indicators suggest that many investors are holding onto their Bitcoin for longer periods before selling. This points to a phase of accumulation rather than short-term selling pressure.
What’s Next for Bitcoin?
The current market environment favours long-term holders. As long as this group continues to see profits and refrains from selling, a bear market appears unlikely. On the contrary, the bullish sentiment among LTHs could continue to support the price. Bitcoin has recently reclaimed the 87,000 USD mark. A closing price above 87,500 USD could pave the way for a further rise toward 90,000 USD. However, in the event of a correction, a drop to around 84,526 USD may be possible.
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Our Assessment
The data clearly points to a stable market phase with positive outlooks. Long-term holders remain invested and are expanding their positions. Institutional investors like Metaplanet are also demonstrating their confidence in Bitcoin through continued purchases. As long as there are no signs of mass selling or capitulation, the risk of a sharp downturn remains low. For those with a long-term perspective, the current situation presents strong arguments for continued observation or gradual investment.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | $87,556.00 |
| 24h % | 2.64 % |
| 7d % | 3.51 % |
| 30d % | 4.45 % |
| 60d % | -10.96 % |
| 1y % | 34.87 % |
| Market Cap | $1,737,318,769,836.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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