Analysis: Bitcoin long-term holders reach a record high of 16.3 million coins, but the average unrealized profit remains low

Odaily reports that CryptoQuant analyst Darkfost stated on X that Bitcoin long-term holders (LTH, holding coins for more than 6 months) have reached a historic high in their holdings, currently exceeding 16.3 million BTC. Their average holding cost is around $49,400, and based on current prices, only about 30% unrealized gains have been achieved, which is relatively low. In comparison, in January 2025, the net unrealized gain of long-term holders once reached about 340%.

Darkfost also noted that at the end of the last bear market, long-term holders overall were experiencing about 20% unrealized losses, and the market eventually underwent an even deeper correction. This means that the market may still further retreat in the future, causing long-term holders to move back into loss territory, though this is not necessarily a repetition of historical patterns. He suggests investors should be prepared for both upward and downward market scenarios.