Bitcoin's Rise Amidst Profit-Taking: What Long-Term Holders' Selling Means for Prices

Bitcoin has been rising despite long-term holders selling their coins. However, this profit-taking is not as heavy as it was during earlier market peaks. Long-term holders are making smaller gains now than they did at the last major peak, which means there's less pressure to sell.

The average gain for long-term holders is about 72% currently, compared to around 350% in December 2024. This lower profit may be reducing the incentive to sell. Investors who bought Bitcoin at much lower prices had a bigger reason to lock in profits during the earlier peak.

Big wallets have been adding to their Bitcoin holdings, with mid-sized wallets increasing their total by about 2.2% between July and September. These wallets now hold around 5.24 million BTC. However, this increase doesn't necessarily mean new money is entering the market; it could be a result of wallet-to-wallet transfers.

The current profit-taking pattern in September 2026 looks different from previous major tops. Long-term holders are selling less now than they did during the major Bitcoin peaks in 2025. Their share of realized profits has fallen to about 47% currently, down from 88% at the August peak.