{"id":575515,"date":"2024-02-16T21:00:04","date_gmt":"2024-02-16T21:00:04","guid":{"rendered":"https:\/\/uniquehot.com\/?p=575515"},"modified":"2024-06-11T08:33:41","modified_gmt":"2024-06-11T08:33:41","slug":"bitcoin-short-term-holders-647-profits-glassnode","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-short-term-holders-647-profits-glassnode\/","title":{"rendered":"Bitcoin Short-Term Holders Just Locked In $647 Million In Profits"},"content":{"rendered":"

On-chain data from Glassnode shows that the Bitcoin short-term holders have recently participated in a massive $647 million profit-taking event.<\/p>\n

Bitcoin Short-Term Holders Have Realized Large Net Profits Recently<\/h2>\n

According to data from the on-chain analytics firm Glassnode<\/a>, the short-term holders have given a strong reaction to the $52,000 break. The “short-term holders<\/a>” (STHs) here refer to the Bitcoin<\/a> investors who bought their coins within the past 155 days.<\/p>\n

Statistically, the longer an investor holds onto their coins, the less likely they become to sell at any point. The STHs have a relatively low holding time, so they easily sell during price rallies or crashes.<\/p>\n

Related Reading: Bitcoin Signal That Has Held Since December Says It\u2019s Time To Sell<\/a><\/div>\n

On the other hand, the “long-term holders<\/a>” (LTHs), which make up the rest of the userbase (that is, those withholding time greater than 155 days), tend to carry a strong resolve.<\/p>\n

Since the STHs are fickle-minded, it’s not surprising that they have made some selling moves after the latest rally in the asset. One way to gauge the reaction of this cohort is through the “Net Realized Profit\/Loss<\/a>” metric.<\/p>\n

This indicator keeps track of the net profit or loss the investors realize across the network. The metric finds this value by going through the on-chain history of each coin being transferred right now to check the price it was moved at before.<\/p>\n

Assuming that a change of hands occurred in the previous transfer and that another such change is happening with the current one, then the coin’s sale would realize a profit or loss equal to the difference between the two prices.<\/p>\n

The Net Realized Profit\/Loss sums up all such profits and losses and outputs the net value. Now, here is a chart that shows the trend in this indicator specifically for the Bitcoin STHs over the past few years:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has been significantly positive in recent days | Source: Glassnode on X<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin STH Net Realized Profit\/Loss has spiked to highly positive levels recently, implying that these investors’ profits have significantly outweighed the losses.<\/p>\n
This cohort has realized $647 million in net profits during this latest selling spree. The chart shows that the last time the indicator was at higher positive values was back around the formation of the 2021 all-time high.<\/p>\n
Related Reading: These Are The Altcoins Drawing Whale Interest, Santiment Reveals<\/a><\/div>\n
The current values aren’t off this mark, but the STH Net Realized Profit\/Loss levels that hit back during the first half of the 2021 bull run are still far away. For perspective, the peak in the metric achieved back then was $2.5 billion, which remains the all-time high for the indicator.<\/p>\n
BTC Price<\/h2>\n
Since the rapid surge above $52,000, Bitcoin has calmed down slightly, as it has moved sideways in the past few days. At present, BTC is trading at around $52,500.<\/p>\n
\"Bitcoin<\/p>\n
The price of the asset seems to have slowed down in the last two days or so | 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 from Glassnode shows that the Bitcoin short-term holders have recently participated in a massive $647 million profit-taking event. Bitcoin Short-Term Holders Have Realized Large Net Profits Recently According to data from the on-chain analytics firm Glassnode, the short-term holders have given a strong reaction to the $52,000 break. The “short-term holders” (STHs) here refer to the Bitcoin investors who bought their coins within the past 155 days. Statistically, the longer an investor holds onto their coins, the less likely they become to sell at any point. The STHs have a relatively low holding time, so they easily sell during price rallies or crashes. Related Reading: Bitcoin Signal That Has Held Since December Says It\u2019s Time To Sell On the other hand, the “long-term holders” (LTHs), which make up the rest of the userbase (that is, those withholding time greater than 155 days), tend to carry a strong resolve. Since the STHs are fickle-minded, it’s not surprising that they have made some selling moves after the latest rally in the asset. One way to gauge the reaction of this cohort is through the “Net Realized Profit\/Loss” metric. This indicator keeps track of the net profit or loss the investors realize across the network. The metric finds this value by going through the on-chain history of each coin being transferred right now to check the price it was moved at before. Assuming that a change of hands occurred in the previous transfer and that another such change is happening with the current one, then the coin’s sale would realize a profit or loss equal to the difference between the two prices. The Net Realized Profit\/Loss sums up all such profits and losses and outputs the net value. Now, here is a chart that shows the trend in this indicator specifically for the Bitcoin STHs over the past few years: Looks like the value of the metric has been significantly positive in recent days | Source: Glassnode on X As displayed in the above graph, the Bitcoin STH Net Realized Profit\/Loss has spiked to highly positive levels recently, implying that these investors’ profits have significantly outweighed the losses. This cohort has realized $647 million in net profits during this latest selling spree. The chart shows that the last time the indicator was at higher positive values was back around the formation of the 2021 all-time high. Related Reading: These Are The Altcoins Drawing Whale Interest, Santiment Reveals The current values aren’t off this mark, but the STH Net Realized Profit\/Loss levels that hit back during the first half of the 2021 bull run are still far away. For perspective, the peak in the metric achieved back then was $2.5 billion, which remains the all-time high for the indicator. BTC Price Since the rapid surge above $52,000, Bitcoin has calmed down slightly, as it has moved sideways in the past few days. At present, BTC is trading at around $52,500. The price of the asset seems to have slowed down in the last two days or so | 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":575524,"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":[428,91668,85496,6481,84852,87789,1119,1144,61309],"class_list":["post-575515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-net-profits","tag-bitcoin-profit-taking","tag-bitcoin-rally","tag-bitcoin-short-term-holders","tag-bitcoin-sths","tag-btc","tag-btcusd","tag-glassnode"],"acf":[],"yoast_head":"\nBitcoin Short-Term Holders Just Locked In $647 Million In Profits<\/title>\n<meta name=\"description\" content=\"On-chain data from 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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":"Bitcoin Short-Term Holders Just Locked In $647 Million In Profits","url":"http:\/\/uniquehot.com\/news\/bitcoin-short-term-holders-647-profits-glassnode\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-short-term-holders-647-profits-glassnode\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/kanchanara-9pCV2MB65y8-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/kanchanara-9pCV2MB65y8-unsplash.jpg?fit=6000%2C4000"},"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 net profits","bitcoin profit-taking","bitcoin rally","bitcoin short-term holders","bitcoin sths","btc","btcusd","glassnode"],"dateCreated":"2024-02-16T21:00:04Z","datePublished":"2024-02-16T21:00:04Z","dateModified":"2024-06-11T08:33:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Short-Term Holders Just Locked In $647 Million In Profits\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-short-term-holders-647-profits-glassnode\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-short-term-holders-647-profits-glassnode\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/kanchanara-9pCV2MB65y8-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/kanchanara-9pCV2MB65y8-unsplash.jpg?fit=6000%2C4000\"},\"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 net profits\",\"bitcoin profit-taking\",\"bitcoin rally\",\"bitcoin short-term holders\",\"bitcoin sths\",\"btc\",\"btcusd\",\"glassnode\"],\"dateCreated\":\"2024-02-16T21:00:04Z\",\"datePublished\":\"2024-02-16T21:00:04Z\",\"dateModified\":\"2024-06-11T08:33:41Z\"}<\/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\/02\/kanchanara-9pCV2MB65y8-unsplash.jpg?fit=6000%2C4000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/575515"}],"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=575515"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/575515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/575524"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=575515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=575515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=575515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}