Realized profits by Bitcoin long-term holders reach 3.27M BTC this cycle, marking a higher payout than the 2021 cycle.

On-chain analytics from Glassnode indicates that Bitcoin (BTC) long-term holders (LTHs) have realized 3.27 million BTC in profits this cycle, overtaking the 2021 bull run and signaling rising sell-side pressure.

Defined as investors holding BTC for at least 155 days, LTHs have now extracted more gains than in nearly all previous cycles, with only the 2017 run surpassing this amount at 3.93 million BTC. The 2021 cycle saw just over 3 million BTC realized, while earlier cycles, such as 2013, recorded significantly less.

Measured in USD terms, these profits are particularly notable. With Bitcoin averaging around $1,000 in 2015 versus today’s prices roughly 100 times higher, the dollar value of realized gains has grown dramatically. Much of the supply has come from long-dormant “OG” coins re-entering circulation.

Recent activity highlights this trend: about 80,000 BTC was listed for sale at Galaxy, while another 26,000 BTC became active on the network, totaling roughly 100,000 BTC and prompting a modest market correction.

ETFs and broader trading volumes have supported this capital rotation, illustrating how institutional mechanisms are increasingly facilitating liquidity and shaping late-cycle market behavior.