Glassnode: Bitcoin Long-Term Holders Own 90% Of Supply In Profit
Latest data from Glassnode shows Bitcoin long-term holders currently own around 90% of the total supply in profit.
Bitcoin Supply In Profit Share Of Short-Term Holders Declines
According to the latest weekly report from Glassnode, dominance of long-term holders has observed rise recently.
The relevant indicator here is the “supply in profit,” which measures the total number of coins that are currently holding a profit in the Bitcoin market.
The metric works by checking the on-chain history of each coin to see what price it was last sold at. If this previous price was less than the current one, then the coin has now accumulated some profit.
LTHs only include those investors who have held their Bitcoin since at least 155 days without selling or moving them. The cohort that has been holding since days less than this threshold are called the “short-term holders” (STHs).
As you can see in the above graph, it seems like in the last few weeks the percentage of the supply in profit owned by LTHs crossed the 90% mark. This means that the share of STHs shrunk below 10%.