Bitcoin Long-Term Holders Reach Record High, But Unrealized Gains Remain Low

Bitcoin long-term holders have reached an all-time high of 16.3 million coins, according to CryptoQuant analyst Darkfost on X. This milestone is significant because it shows that investors are holding onto their Bitcoin for extended periods.

The average cost basis of these long-term holders is around $49,400 per coin, and based on current prices, they have only achieved about 30% unrealized gains. In comparison, in January 2025, the net unrealized gain of long-term holders reached a staggering 340%.

Darkfost also noted that at the end of the last bear market, long-term holders were experiencing about 20% unrealized losses, which eventually led to an even deeper correction. This suggests that the market may still further retreat in the future, causing long-term holders to move back into loss territory.