Key Points:
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Bitcoin has recognized that long-term holder profits remain relatively lower than in 2024.
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The survey calculates that BTC/USD must reach $140,000 to match these levels.
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As consolidation continues, price action is about to break out of the multi-week downtrend.
Bitcoin (BTC) must reach $140,000 before OG investors can enjoy the benefits they see in the first half at Bull Market.
A new study from Onchain Analytics Platform Cryptoquant states that the $140,000 mark is a key price for long-term Bitcoin holders (LTHS).
Cryptoquant: $140,000 BTC “A lot of people want”
Bitcoin has witnessed profits in recent weeks as prices have hit an all-time high but struggles to maintain them.
In particular, LTH investors (entities who hold BTC and have not sold for at least six months) contribute to the majority of sales pressure.
Comparing the current realized profits to previous bull market peaks shows that LTH is not as deep as “middle black” in 2025.
To do this, Cryptoquant utilized market value for realised value (MVRV) metrics. This compares the value of a coin in circulation with the price it last moved.
“It’s currently at about 220% based on the MVRV ratio,” contributor DarkFost wrote in one of his QuickTake blog posts.
DarkFost argued that the figure “may look high in BTC,” but in March and December 2024, “the average realized profit for LTH was around 300% and 350%, respectively.”
The total cost base, also known as the realised price for the LTHS, is currently around $33,800.
In conclusion, DarkFost argued that the price in which the unrealized profit of LTH matches the 2024 level is a type of magnet in the market.
“These benefits may seem substantial, but we are still far from the level we observed at the top of this cycle,” he concluded.
“To return to these profit levels, BTC needs to reach $140,000. The price level that many people are looking for.”
Bitcoin Bull Market continues
As reported by Cointelegraph, the “ultra-majority” of Bitcoin investors sits in unrealized profits worth a massive $2.5 trillion.
Related: Bitcoin to copy S&P 500 to hit a new all-time high in July: prediction
Meanwhile, market participants are confident that the market will be able to absorb sales pressure as it enters the new BTC price integration phase.
“The next technical step is to retest after a expected breakout,” popular trader Rekt Capital wrote in part of a recent X analysis examining weekly BTC/USD performance.
Rekt Capital explained that Bitcoin is in the process of breaking out of multiple weekly downtrends that have been ongoing since mid-May.
This week he predicted that the Bullmarket would only remain for a few months before the blow-off top and trend change arrived.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
