Bitcoin’s ‘Super-Majority’ HODLing $1.2T Unrealized Gains
Bitcoin investors are increasingly holding onto their assets, with a decline in cashing out as they anticipate higher prices. A report from Glassnode indicates that a majority of Bitcoin investors are now holding unrealized profits, with total unrealized profits reaching $1.2 trillion, close to the all-time high of $1.3 trillion. The average investor is experiencing a paper gain of 125%. Despite this profitability, there is a strong preference for HODLing, as current prices are not compelling enough for significant profit-taking. Selling by short-term holders has decreased, suggesting market expectations for higher prices. Bitcoin is trading at $106,170, approximately 5.5% below its May all-time high of $111,970. Analysts suggest that long-term holders may be contributing to the difficulty in breaking the $100,000 price barrier, with some selling pressure noted since the launch of spot Bitcoin ETFs in January 2024.
