Bitcoin Long-Term Holders Realize 2.37M BTC ($260.7B) in Second Most Profitable Cycle Amid Signs of Late Phase and October-November Peak

Bitcoin long-term holders have realized approximately 2.37 million BTC, equivalent to about $260.7 billion in profits during the 2024–2025 cycle, marking the highest profit realization in nearly a decade. Data from Glassnode indicates that this cycle ranks as the second most profitable in Bitcoin's history, with long-term holders locking in more gains than in any cycle since 2016–17. The average accumulation price for experienced investors is around $37,000, which is about 70% below the current cycle peak and has historically corresponded to bear market lows. Analysts suggest that these elevated sell-side pressures signal that Bitcoin may be entering the late phase of its market cycle. On-chain data also reveals a transfer of roughly 50,000 BTC from long-term holders to short-term holders, contributing to relatively sideways price action. Some market observers anticipate a potential market dip in the coming weeks, noting that bullish news has had limited impact on prices recently and that September has historically been a weak month for Bitcoin. There is speculation that investors might be selling ahead of an expected cycle peak in October or November 2025, with hopes of selling above the $100,000 mark. Meanwhile, the current cycle appears to be stretching longer than previous ones, with the slope of the uptrend flattening and expectations of a sharp price movement in the third quarter of 2025.

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