CryptoQuant: Profit-taking by long-term Bitcoin holders is a normal phenomenon in a bull market and has not yet reached extreme levels

ChainCatcher news, according to The Block, CryptoQuant analysts indicate that after BTC broke the $100,000 mark, long-term Bitcoin holders (LTH) began to take profits. CryptoQuant data shows that the "Long-Term Holder Spent Output Profit Ratio" (LTH-SOPR) has significantly increased, which measures the profit level of long-term Bitcoin investors by comparing the selling price of Bitcoin to the price they initially paid.

CryptoQuant's research director Julio Moreno stated, "As Bitcoin's price rises above $100,000, long-term holders (LTH) have been taking profits, as indicated by the LTH SOPR rising to 4, which shows that the tokens sold by long-term holders have realized profits four times their original purchase price. However, this is a normal phenomenon during a Bitcoin bull market, and profit-taking is still far from reaching extreme levels."