Bitcoin Long-Term Holders Take Profits Amid Price Surge

Bitcoin's recent price increase has led to a focus on long-term holder (LTH) behavior. Instead of increasing their distribution rate, LTHs are taking measured profits during periods of strength.

Recent data from CryptoQuant shows that Long-Term Holder SOPR (Spent Output Profit Ratio) spiked again after notable peaks in April and June. The metric has since dropped to around 0.85, but the repeated spikes above the 1.00 baseline indicate continued profit-taking by LTHs.

Despite this, broader ownership trends remain constructive. The LTH/STH (Short-Term Holder) Realized Cap Ratio has climbed to 3.9, approaching the historical cycle-bottom threshold of 4.0. As realized capital shifts towards long-term holders, short-term participation weakens.