Bitcoin Long-Term Holders Seek $140,000 Target to Recapture 2024 Profit Levels

Key Points

• Bitcoin’s realized profits for long-term holders remain comparatively lower than during 2024
• To match 2024 levels, BTC/USD needs to reach $140,000 according to CryptoQuant analysis
• Market is attempting to break out of a multiweek downtrend amid price consolidation

Analysis: CryptoQuant Identifies $140,000 as Critical Support

Bitcoin must reach the $140,000 price level to return long-term holders to their 2024 profit margins, according to new research from on-chain analytics platform CryptoQuant.

Current Profit Levels Lag 2024 Peaks

Bitcoin has recently reached all-time highs but has failed to sustain them, prompting significant profit-taking from long-term holders. While prices consolidate, selling pressure from entities holding BTC for six months or more has intensified.

Analysis comparing current realized profits to 2024’s market peaks reveals that long-term holders are currently not experiencing as substantial gains. CryptoQuant’s examination using the Market Value to Realized Value (MVRV) metric shows average realized profits at approximately 220%.

This contrasts sharply with the 300-350% returns seen during the March and December 2024 market peaks. The aggregate cost basis for long-term holders currently sits at around $33,800, significantly lower than the market’s all-time high valuations.

“To return to those profit levels, BTC would need to reach $140,000. A price level that many are calling for.”

Market Perspective: Consolidation Amid Opportunity

The cryptocurrency market acknowledges the importance of the $140,000 price barrier. CryptoQuant contributor Darkfost characterized the price threshold as a form of market magnet where long-term holders’ unrealized profits would match 2024 levels.

Bull Market Continues Despite Consolidation

Despite recent consolidation, market participants remain confident that the bull market can withstand selling pressure. Analysts note that the multi-week downtrend, which began in mid-May, is currently being challenged.

Bull Market Resilience: A “super majority” of Bitcoin investors are holding positions worth collectively $2.5 trillion in unrealized profits.

Related: Bitcoin Due to Copy S&P 500 to Hit New All-Time High in July: Forecast

Technical analysts suggest the next key phase involves a post-breakout retest. Several market observers predict that the current consolidation period may represent one of the final stages before a potential blow-off top.