Bitcoin holders are sitting on roughly $1.2 trillion in unrealized profits, according to Glassnode, reflecting a strong shift in investor behavior as the market matures.
Despite BTC trading near all-time highs, few seem eager to cash out.
The data shows that the average unrealized profit per investor is currently around 125%—a dip from March’s 180% peak when Bitcoin topped $73,000. Still, daily realized profits remain muted at around $872 million, far lower than the multi-billion-dollar spikes seen in previous rallies.
This subdued activity paints a clear picture: long-term conviction is outweighing profit-taking. Glassnode reports that accumulation continues to dominate, with most holders simply holding tight rather than selling into strength.
Analyst Rezo argues this signals a deeper change in who owns Bitcoin. Gone are the days when traders chased quick exits. The market is increasingly led by institutions and ETFs that treat BTC as a long-term strategic asset. He pointed to firms like MicroStrategy (now Strategy), which increased its holdings by 18% last quarter, and ETFs that saw an 8% bump in exposure.
Rezo believes most short-term profit-chasers already exited between $70K and $100K. What remains, he says, are allocators—not speculators—who view Bitcoin less as a trade and more as a macro thesis.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-holders-sit-on-1-2-trillion-in-profit-but-theyre-not-selling/