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Bitcoin Long-Term Holders Locked $120M Profits Amid Price Drop
Recent on-chain data reveals that Bitcoin long-term holder (LTH) whales have engaged in profit-taking amid a recent price drop.
Key Points
- LTH whales, holding more than 1,000 BTC, locked in significant gains during the latest price decline.
- The Realized Profit metric for these LTH whales spiked notably on September 21st, coinciding with BTC's price fall to $112,000.
- LTH whales realized over $120 million in profits during this period.
- Meanwhile, short-term holders (STHs), who entered the market in the past five months, incurred losses by selling 15,700 BTC at a loss.
- Glassnode reports that the cumulative LTH Realized Profit in the current bull market stands at 3.4 million BTC, surpassing all but one previous cycle.
Bitcoin Price
Bitcoin has shown some recovery, with its price returning to $113,700 recently.

