📣🗾Bitcoin profit-taking makes $140K key BTC price point: Research

Bitcoin realized profits this year have yet to match 2024 levels, and BTC price action would notionally need to rise 30% as a result, said research from CryptoQuant.Bitcoin realized profits for long-term holders remain comparatively lower than during 2024.

Research calculates that to match those levels, BTC/USD needs to reach $140,000.

Price action is attempting to break out of a multiweek downtrend as consolidation continues.

BTC$109,089 must hit $140,000 before OG investors enjoy the kind of profits seen earlier in the bull market.

New research from onchain analytics platform CryptoQuant says that the $140,000 mark is a key price point for Bitcoin’s long-term holders (LTHs).

CryptoQuant: ”Many are calling for” $140,000 BTC

Bitcoin has witnessed an uptick in profit-taking in recent weeks as the price hits all-time highs but struggles to maintain them.

In particular, LTH investors — entities hodling BTC and not selling for at least six months — have contributed the lion’s share of selling pressure.

Comparing current realized profits to earlier bull-market peaks shows that LTHs are not as deep “in the black” as before.

To do this, CryptoQuant leveraged the Market Value to Realized Value (MVRV) metric, which compares the value of coins in circulation to the price at which they last moved.🔜🦚🚀🥀🥀🥀🥀🥀🥀🥀🥀🥀🥀🥀🥀🥀🥀🥀🥀🥀$BTC

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