Bitcoin Holders: The Unfazed Heroes of the Crypto Saga! 🚀💰

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So, Bitcoin has decided to throw a party, and guess what? It’s up more than 47% from its recent lows! 🎉 It’s like that friend who shows up at the reunion looking fabulous while the rest of us are still in sweatpants. In May, it hit a new all-time high, and the long-term holders are just sitting there, sipping their drinks, and not rushing to sell. Who knew they could be so chill? 🥳

In a shocking twist, these long-term holders (LTHs) are not in a mad dash to cash in their chips. On-chain data is like a nosy neighbor, revealing that there’s a serious lack of aggressive selling, even with all that sweet profit potential dangling in front of them. It’s almost as if they’ve taken a vow of silence on their Bitcoin fortunes. 🙊

Real Vision analyst Jamie Coutts, who sounds like he should be giving TED Talks, pointed out on May 28 that the LTH-SOPR (Spent Output Profit Ratio) is the most obvious sign of this resilience. It’s like the Bitcoin version of a mood ring, but instead of changing colors, it just tells you how much people are willing to sell. Back in 2017, it peaked at 17, and now it’s sitting pretty at a cozy 2.1. Talk about a glow-up! 🌈

While MVRV and NUPL measure the potential for profit-taking, LTH-SOPR captures when that potential is realized—when long-term holders actually move coins to lock in gains or cut losses.

At previous tops, the signal has been clear: LTH-SOPR hit 17 in 2017, 8 in 2021, and 4.3 in…

— Jamie Coutts CMT (@Jamie1Coutts) May 28, 2025

It seems our LTH friends are realizing fewer profits than they did during previous bull runs, even with Bitcoin’s recent surge. It’s like they’re on a diet but still eyeing the dessert table. 🍰 Coutts, the ever-optimistic analyst, assures us that this muted activity is a sign of long-term confidence. Or maybe they just forgot their passwords? 🤔

Glassnode data backs this up, showing that accumulation patterns are popping up in almost every wallet type. Even those with less than 1 BTC are back in the game, while the 1–10 BTC group is still in a selling frenzy. It’s like a high school reunion where some people are still trying to impress their exes. 😅

And get this: profit-taking during Bitcoin’s latest breakout has been surprisingly restrained. When BTC crossed the $100,000 mark last December, realized profit volumes were over $2.1 billion. This time around, with all the excitement, we only saw $1 billion in realized profits. It’s like going to a concert and realizing you forgot your wallet. 🎤💸

When $BTC hit all-time high yesterday, total profit-taking volume was around $1.00B – less than half the amount realized when #Bitcoin first crossed $100K last December, which hit $2.10B. Despite a higher price, profit realization was far more muted.

— glassnode (@glassnode) May 22, 2025

Additionally, coin age data shows that older coins are still mostly inactive. Just 13.4% of active supply is older than six months as of May 2025, down from 24.7% in December 2024. It’s like the old folks are sitting on their porches, reminiscing about the good old days while the newbies are out partying. 🪑🍹

The bullish outlook is further supported by institutional interest. Over $5.3 billion has been invested in spot Bitcoin ETFs in the last month, according to SoSoValue data. U.S.-listed funds are now managing over $40 billion in total assets. Meanwhile, corporate accumulation is on the rise, like a teenager’s growth spurt. 📈

Last week, Strategy (formerly MicroStrategy) decided to up its game, increasing its holdings to 576,230 BTC by snagging an additional 7,390 BTC. The Japanese company Metaplanet is also getting in on the action, boosting its holdings to over 7,000 BTC. Public companies are collectively acquiring over 30,000 BTC each month. It’s like a Bitcoin buffet, and everyone’s invited! 🍽️

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2025-05-28 07:29