Key points:
- The aggregate cost basis for Bitcoin’s speculative investors has now climbed past $100,000.
- Profit‑taking is accelerating, with roughly $3.5 billion in gains realized in the last 24 hours alone.
- A long‑dormant wallet, created 14 years ago, just transferred 40,000 BTC to Galaxy Digital, leaving its owner’s identity a mystery.
Bitcoin speculators have reached a new milestone, with their total buy-in cost surpassing $100,000 for the first time.
According to the latest data from on-chain analytics firm Glassnode, as of Tuesday, the cost basis for short-term Bitcoin holders (STHs) has officially entered six-figure territory.
Bitcoin short-term holder cost basis surpasses $100,000
Bitcoin’s more speculative investor groups are now, on average, six-figure buyers.
According to Glassnode, a breakdown of the cost basis across different BTC holder categories shows that those who entered the market within the past six months paid over $100,000 per coin on average.
Short-term holders (STHs) are generally more reactive to short-term price movements and tend to sell in response to rapid market shifts. Their cost basis—referred to as the realized price—often acts as a key support level during Bitcoin bull runs.
With the cost basis now above $100,000, this level could become a critical support zone if BTC/USD faces a deeper correction.
Meanwhile, both short-term holders (STHs) and their longer-term counterparts (LTHs) have been quick to capitalize on Bitcoin’s climb to all-time highs.
Glassnode reported that, in the 24 hours leading up to 4 a.m. ET on Tuesday, combined profit-taking by STHs and LTHs totaled approximately $3.5 billion.
“One of the largest $BTC profit realization days this year — driven mostly by long-term holders,” the firm noted on X.
BTC hodlers take profits off the table
Before the latest wave of profit-taking, Glassnode had cautioned that the magnitude of recent gains could be too tempting for holders to resist—regardless of how long they’ve been in the market.
In its latest Market Pulse report, the firm noted: “Capital rotation metrics show a modest uptick in short-term holder activity, but long-term holders still dominate, helping to maintain overall market stability.”
“Meanwhile, profit/loss indicators signal caution, with realized profit-taking rising and nearly 99% of the supply in profit, suggesting elevated euphoria and potential risk of corrections.”
Among the recent movements was the mysterious owner of 80,000 BTC, who became active on-chain for the first time in over a decade. According to data from Arkham, 40,000 BTC were transferred on Tuesday to a wallet linked to the exchange Galaxy Digital.
