According to Cas Abbé, long-term Bitcoin holders have realized 3.27 million BTC in profits in the current cycle, the second-highest on record after 2017, indicating that a large share of older coins has already been sold into strength, source: Cas Abbé on X, Aug 26, 2025. According to Cas Abbé, this scale of realized profit has historically coincided with the later stages of a bull market, signaling elevated late-cycle risk for BTC price momentum, source: Cas Abbé on X, Aug 26, 2025.

According to @glassnode, BTC long-term holders have already realized more profit this cycle than in all but one prior cycle, the 2016–2017 period. According to @glassnode, this highlights elevated sell-side pressure from long-term holders. According to @glassnode, taken alongside other signals, this suggests the market has entered a late phase of the cycle.

According to @Andre_Dragosch, despite significant profit-taking by the HTX whale, overall whale realized profits have only seen a minor uptick as of Aug 25, 2025. Source: @Andre_Dragosch. According to @Andre_Dragosch, whale profit-taking has generally declined since July 2025. Source: @Andre_Dragosch.

According to @glassnode, the latest realized-profit wave in Bitcoin is led by 3–5 year holders, indicating prior-cycle investors are currently realizing gains (source: @glassnode, Aug 11, 2025). This contrasts with the Nov/Dec 2024 peaks, which were dominated by 6–12 month holders identified as early spot BTC ETF buyers (source: @glassnode, Aug 11, 2025).

According to @cas_abbe, Bitcoin (BTC) holders are currently locking in significant profits, as evidenced by one of the largest spikes in realized profits onchain since the start of the current bull cycle. This data suggests strong profit-taking activity among BTC investors. Historically, such profit-taking waves indicate a pause or consolidation in the market rather than a full cycle top, providing traders with signals that short-term volatility may increase but the overall bull market structure remains intact. Source: @cas_abbe

According to glassnode, recent on-chain data shows that realized profits for Bitcoin are currently lower in magnitude, with long-term holders continuing to retain their positions while short-term traders are increasingly driving the market. This combination of reduced profit-taking and persistent long-term holding supports ongoing bullish expectations among less speculative BTC investors, suggesting potential for further upward movement in the Bitcoin price. Active short-term trading is also contributing to higher volatility, which can present new trading opportunities for crypto market participants (source: glassnode, May 22, 2025).