According to Cointelegraph, research from CryptoQuant shows that Bitcoin needs to reach $140,000 for long-term holders to achieve profit levels similar to those in 2024. The current average realized profit is 220%, while the average profit in March and December 2024 is expected to be 300% and 350%, respectively.
The cost basis for long-term holders is about $33,800. Although the profits seem considerable, they have not yet reached peak cycle levels. Market participants believe that the market can absorb selling pressure, and Bitcoin's price is entering a new consolidation phase.
