BTC Hits Peak, Yet Holders Below Euphoria Threshold
- Main event: BTC reaches $118,000, holder behavior shifts
- Holders below euphoria despite peak
- Market maturity evident, institutional inflows strong
Bitcoin has surpassed $118,000 to reach a new all-time high, according to Glassnode’s recent analysis. Despite this, long-term holders’ net unrealized profit/loss remains below the euphoria zone, indicating a mature market response.
The sustained all-time high of Bitcoin signifies market activities that deviate from previous bullish cycles, underscoring a growing trend of maturity. Long-term holders are maintaining stability amidst significant price gains.
Glassnode reports that Bitcoin’s long-term holders are not reacting as expected during an all-time high event. Previously, high euphoria occurred in lengthy 228-day spans, unlike the current restrained 30-day euphoria seen in 2024–2025.
“Despite the price of BTC surpassing $118,000 and reaching a new all-time high, the Net Unrealized Profit/Loss (NUPL) for long-term holders remains below the Euphoria Zone, currently at 0.69. This cycle, NUPL has only exceeded the 0.75 threshold for about 30 days, compared to 228 days in the previous cycle.” – Glassnode Official, On-Chain Data Analytics Provider, Glassnode, Source1
Market data showcase a stable BTC price range between $100K and $110K over recent months. This reflects steadfast demand, with institutional interest providing notable support that counteracts typical market volatility.
Despite the elevated BTC price, long-term holders show a cautious approach, reducing potential profit-taking scenarios. Their supply has reached a new peak, improving market stability while resisting speculative urge to sell prematurely.
Glassnode’s findings suggest a guarded yet constructive sentiment among Bitcoin holders. Historical trends show reduced extreme profit-taking, serving as evidence of a more mature investor base in the current market.
Expert reviews of the Glassnode data highlight the comprehensive documentation of Bitcoin holding patterns, forming the basis for predictions that advocate continued stable growth alongside institutional investments.
