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

Recently, as Bitcoin prices continue to hit new highs but struggle to stabilize, profit-taking activities in the market are on the rise.

In particular, LTH investors—those who have held BTC for at least six months without selling—have become a major source of selling pressure.

Comparing the current realized profits with the peaks of previous bull markets, it can be observed that the overall profits of long-term holders in 2025 are far below the peak levels of past cycles.

To address this, CryptoQuant uses the Market Value to Realized Value (MVRV) metric to compare the current value of circulating Bitcoin with its price at the last transfer.

The author Darkfost wrote in his "Quicktake" blog: "According to the MVRV ratio, the average realized profit is currently about 220%."

He added that although this figure is "not low for BTC," the average realized profits for LTHs reached approximately 300% and 350% in March and December of 2024, respectively.

The overall cost basis for long-term holders, i.e., the realized price, is now around $33,800.

Darkfost concluded that the price needed to bring the unrealized profits of LTH back to the 2024 levels will become the market's "magnet of attraction."

"While these profits may seem substantial at the moment, there is still a significant gap compared to the peak phase of this cycle," he stated. "To return to such profit levels, the BTC price would need to rise to $140,000. Many are looking forward to this price point."

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