Key points:
- Bitcoin realized profits for long-term holders are still relatively lower compared to earlier in 2024.
- According to new research, BTC/USD would need to hit $140,000 to match those previous profit levels.
- Meanwhile, the price is trying to break out of a multiweek downtrend as consolidation persists.
Bitcoin needs to reach $140,000 before long-term holders can realize the same level of profits seen earlier in the bull run.
New analysis from on-chain data platform CryptoQuant highlights $140,000 as a crucial price target for Bitcoin’s long-term investors.
CryptoQuant: “$140,000 Bitcoin is a popular target among investors”
Bitcoin has seen a rise in profit-taking in recent weeks, as prices reach new all-time highs but struggle to hold those levels.
Long-term holders (LTHs)—investors who have held Bitcoin for at least six months without selling—have been a major source of this selling pressure.
However, a comparison with previous bull market peaks reveals that LTHs are not enjoying the same level of profits as they did earlier in 2025. To assess this, CryptoQuant used the Market Value to Realized Value (MVRV) ratio, which measures the relationship between the current market value of BTC and the price at which each coin last moved.
According to CryptoQuant contributor Darkfost, the average realized profit based on the MVRV ratio currently stands at around 220%. While this may seem high, he noted that average realized profits among LTHs reached approximately 300% in March 2024 and 350% in December 2024.
The realized price—or aggregate cost basis—for LTHs now sits near $33,800.
Darkfost concluded that the price at which LTHs’ unrealized profits return to those 2024 levels acts as a kind of “market magnet.”
“Although these profits may seem substantial, we’re still far from the levels observed during the tops of this cycle,” he wrote.
“To return to those profit levels, BTC would need to reach $140,000. A price level that many are calling for.”
The Bitcoin bull run rolls on
Meanwhile, market participants remain optimistic that the market can handle ongoing selling pressure as Bitcoin enters a new phase of price consolidation.
“The next technical step is the expected post-breakout retest,” noted popular trader Rekt Capital in a recent analysis on X, reflecting on BTC/USD’s weekly performance.
Rekt Capital noted that Bitcoin is currently breaking out of a multi-week downtrend that began in mid-May.
Looking ahead, he predicted that the bull market may only have a few months remaining before reaching a blow-off top followed by a potential trend reversal.
