Bitcoin’s long-term investors are cashing out profits at levels not seen in nearly a decade, according to new data from blockchain analytics firm Glassnode.
The firm reports that holders with extended positions have realized roughly 2.37 million BTC in gains during the 2024-2025 cycle — worth about $260.7 billion at current prices.
Glassnode said the spike in realized gains reflects intensifying sell-side activity, as investors take advantage of Bitcoin’s rally to trim exposure.
After climbing steadily over the past year, Bitcoin reached a record high of $124,167 on August 14 before retreating to around $110,761 — an 11% pullback.
The move suggests widespread profit-taking, a pattern consistent with previous cycles where periods of explosive growth were followed by quieter consolidation phases.
Analysts note that while long-term holders are locking in record profits, Bitcoin’s broader trend remains intact, with institutional inflows and market structure changes continuing to shape the cycle.
