{"id":569944,"date":"2024-01-17T17:00:35","date_gmt":"2024-01-17T17:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=569944"},"modified":"2024-06-11T10:08:33","modified_gmt":"2024-06-11T10:08:33","slug":"hodling-rewards-bitcoin-long-term-holder-55-profit","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/hodling-rewards-bitcoin-long-term-holder-55-profit\/","title":{"rendered":"HODLing Rewards: Average Bitcoin Long-Term Holder Now Carries 55% Profit"},"content":{"rendered":"

On-chain data shows the Bitcoin long-term holders (the so-called HODLers) are now carrying an unrealized profit of 55% on average.<\/p>\n

Bitcoin Long-Term Holder NUPL Has Hit A Value Of 0.55<\/h2>\n

According to the latest weekly report from Glassnode<\/a>, the profit that the BTC long-term holders are holding has gone up recently. The indicator of interest here is the “Net Unrealized Profit\/Loss<\/a>” (NUPL), which keeps track of the difference between the unrealized profit and loss that Bitcoin investors are carrying currently.<\/p>\n

Related Reading: Bitcoin Has Large Resistance Wall Ahead: Here\u2019s The Level To Watch<\/a><\/div>\n

By “unrealized,” what’s meant here is that the profit or loss is yet to be harvested, as the investor carrying it hasn’t transferred their BTC on the blockchain yet. Once the holder would eventually move the coins, the profit\/loss they were holding would then become “realized.”<\/p>\n

In the context of the current discussion, the NUPL of only a specific segment of the market is of relevance: the long-term holders<\/a> (LTHs). The LTHs are the Bitcoin holders who have been keeping their coins dormant on the network since at least 155 days ago.<\/p>\n

These are the diamond hands of the market who are known to hold through periods of uptrends and downtrends alike, only selling when major market events take place.<\/p>\n

“This includes periods when the market sets new ATHs, around cycle tops and bottoms, and during large shifts in market structure (e.g. Mt Gox, Halvings, and now the launch of spot ETFs),” explains the analytics firm.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin LTH NUPL over the history of the asset:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have been going up in recent weeks | Source: Glassnode's The Week Onchain - Week 3, 2024<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin LTH NUPL has registered a rise in the last couple of months as the cryptocurrency’s spot price has gone through a notable surge.<\/p>\n
“This metric reached 0.55 this week, which is meaningfully positive, and puts the average long-term investor at a 55% unrealized profit,” notes the report. Interestingly, BTC has registered some resistance around this level during the past.<\/p>\n
As Glassnode has highlighted in the chart, the bulls encountered trouble here during August 2012, June 2016, July 2019, and August 2020. In all of these cases, the resulting top was only a local one, except for July 2019, where the recovery rally of the cycle hit a top that BTC wouldn’t surpass for a significant period of time.<\/p>\n
Generally, investors in profit are more likely to sell their coins. The higher the gains that they hold, the stronger can be the allure of profit-taking. Thus, it’s not surprising to see that the LTHs holding significant profits has lead to selling pressure in the market during previous cycles.<\/p>\n
The LTHs have indeed participated in some selling recently as well, as the data for their supply suggests.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the value of the metric has seen some decline recently | Source: Glassnode's The Week Onchain - Week 3, 2024<\/a><\/pre>\n
The Bitcoin LTH supply has now come down 75,000 BTC since the all-time high registered in November, while the opposite cohort, the short-term holders<\/a> (STHs), have naturally gained some share.<\/p>\n
Related Reading: XRP Investors Become Fearful: Time To Buy?<\/a><\/div>\n
“Whilst 75k BTC is a meaningful sum, it should also be viewed within the context of total LTH supply accounting for a whopping 76.3% of the circulating coin supply,” says the report.<\/p>\n
BTC Price<\/h2>\n
Bitcoin has continued its recent sideways trend during the past day as its price currently floats around the $42,600 level.<\/p>\n
\"Bitcoin<\/p>\n
The price of the coin hasn't shown much volatility recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin long-term holders (the so-called HODLers) are now carrying an unrealized profit of 55% on average. Bitcoin Long-Term Holder NUPL Has Hit A Value Of 0.55 According to the latest weekly report from Glassnode, the profit that the BTC long-term holders are holding has gone up recently. The indicator of interest here is the “Net Unrealized Profit\/Loss” (NUPL), which keeps track of the difference between the unrealized profit and loss that Bitcoin investors are carrying currently. Related Reading: Bitcoin Has Large Resistance Wall Ahead: Here\u2019s The Level To Watch By “unrealized,” what’s meant here is that the profit or loss is yet to be harvested, as the investor carrying it hasn’t transferred their BTC on the blockchain yet. Once the holder would eventually move the coins, the profit\/loss they were holding would then become “realized.” In the context of the current discussion, the NUPL of only a specific segment of the market is of relevance: the long-term holders (LTHs). The LTHs are the Bitcoin holders who have been keeping their coins dormant on the network since at least 155 days ago. These are the diamond hands of the market who are known to hold through periods of uptrends and downtrends alike, only selling when major market events take place. “This includes periods when the market sets new ATHs, around cycle tops and bottoms, and during large shifts in market structure (e.g. Mt Gox, Halvings, and now the launch of spot ETFs),” explains the analytics firm. Now, here is a chart that shows the trend in the Bitcoin LTH NUPL over the history of the asset: The value of the metric seems to have been going up in recent weeks | Source: Glassnode’s The Week Onchain – Week 3, 2024 As displayed in the above graph, the Bitcoin LTH NUPL has registered a rise in the last couple of months as the cryptocurrency’s spot price has gone through a notable surge. “This metric reached 0.55 this week, which is meaningfully positive, and puts the average long-term investor at a 55% unrealized profit,” notes the report. Interestingly, BTC has registered some resistance around this level during the past. As Glassnode has highlighted in the chart, the bulls encountered trouble here during August 2012, June 2016, July 2019, and August 2020. In all of these cases, the resulting top was only a local one, except for July 2019, where the recovery rally of the cycle hit a top that BTC wouldn’t surpass for a significant period of time. Generally, investors in profit are more likely to sell their coins. The higher the gains that they hold, the stronger can be the allure of profit-taking. Thus, it’s not surprising to see that the LTHs holding significant profits has lead to selling pressure in the market during previous cycles. The LTHs have indeed participated in some selling recently as well, as the data for their supply suggests. Looks like the value of the metric has seen some decline recently | Source: Glassnode’s The Week Onchain – Week 3, 2024 The Bitcoin LTH supply has now come down 75,000 BTC since the all-time high registered in November, while the opposite cohort, the short-term holders (STHs), have naturally gained some share. Related Reading: XRP Investors Become Fearful: Time To Buy? “Whilst 75k BTC is a meaningful sum, it should also be viewed within the context of total LTH supply accounting for a whopping 76.3% of the circulating coin supply,” says the report. BTC Price Bitcoin has continued its recent sideways trend during the past day as its price currently floats around the $42,600 level. The price of the coin hasn’t shown much volatility recently | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com<\/p>\n","protected":false},"author":542,"featured_media":569980,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,86710,91199,84666,7159,1119,1144],"class_list":["post-569944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-hodlers","tag-bitcoin-hodling","tag-bitcoin-long-term-holders","tag-bitcoin-profit","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nHODLing Rewards: Average Bitcoin Long-Term Holder Now Carries 55% Profit<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin long-term holders (the so-called HODLers) are now 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"HODLing Rewards: Average Bitcoin Long-Term Holder Now Carries 55% Profit","url":"http:\/\/uniquehot.com\/news\/hodling-rewards-bitcoin-long-term-holder-55-profit\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/hodling-rewards-bitcoin-long-term-holder-55-profit\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/kanchanara-rhm7H8X5J98-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/kanchanara-rhm7H8X5J98-unsplash.jpg?fit=6048%2C4024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin hodlers","bitcoin hodling","bitcoin long-term holders","bitcoin profit","btc","btcusd"],"dateCreated":"2024-01-17T17:00:35Z","datePublished":"2024-01-17T17:00:35Z","dateModified":"2024-06-11T10:08:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"HODLing Rewards: Average Bitcoin Long-Term Holder Now Carries 55% Profit\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/hodling-rewards-bitcoin-long-term-holder-55-profit\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/hodling-rewards-bitcoin-long-term-holder-55-profit\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/kanchanara-rhm7H8X5J98-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/kanchanara-rhm7H8X5J98-unsplash.jpg?fit=6048%2C4024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin hodlers\",\"bitcoin hodling\",\"bitcoin long-term holders\",\"bitcoin profit\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-01-17T17:00:35Z\",\"datePublished\":\"2024-01-17T17:00:35Z\",\"dateModified\":\"2024-06-11T10:08:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/kanchanara-rhm7H8X5J98-unsplash.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/569944"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=569944"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/569944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/569980"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=569944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=569944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=569944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}