Bitcoin Investors Realize Significant Profits Following Rise to $111K: Data from Glassnode

Bitcoin traders have been actively capitalizing on profits since the digital currency hit a new all-time high of over $111,000. Despite a subsequent dip and consolidation around $105,000, investors continue to sell to secure their earnings.

This trend is evident in Glassnode’s Entity-Adjusted Spent Output Profit Ratio, indicating high profitability on less than 8% of trading days. With a significant shift towards profit-taking, the average Bitcoin has yielded at least a 16% profit during sale. Older Bitcoin investors are also cashing in, with those holding the asset for one to five years realizing significant gains.

However, on-chain data suggests long-term holders, especially those in the three to five-year range, are becoming weary of selling, despite controlling about 12% of the total Bitcoin market wealth.