Bitcoin Hits New ATH, Profit-Taking Falls By $1 Billion —What It Means for BTC

• Bitcoin profit taking plummets despite a rally to another all time high

• BTC long term holders continue to hold on

  
  

Bitcoin surged to a new all-time high yesterday, marking another historic milestone in its climb. Although prices surged to a record high, market behavior especially from holders did not shift as the usual wave of massive profit-taking didn’t come. In fact, compared to the last major breakout in December 2024, this rally was surprisingly calm on the sell-side.

Profit-Taking Volume Drop amid ATH

Bitcoin transaction activity over time, categorized by the age of Bitcoin holdings, shows fluctuating patterns from November to May, with peaks in spent volume corresponding to specific timeframes.

When Bitcoin first crossed the $100K mark in December 2024, the crypto markets lit up with euphoria and traders cashed in hard. According to Glassnode, realized profit volume surged to $2.10 billion, as many saw the six-figure milestone as a psychological trigger to exit positions.

Also Read: BTC hits a new all time high

Yesterday, even with BTC reaching highly anticipated $110k and crossing to $111k, realized profits totaled only $1.00 billion less than half the amount seen just a few months ago. This stark difference points to a significant shift in market behavior. Investors aren’t dumping their coins at all-time highs. Instead, many are holding on expecting Bitcoin rally to continue.

BTC Cost Basis Distribution

Looking further, as per Glassnode coin age distribution data gives us a clearer picture of who’s moving and who’s sitting still. Short-term holders those with coins less than one month old have become far more dominant in May 2025, accounting for 76.9% of all active coins. That’s a sharp increase from 44.6% in December.

Bitcoin: Spent Volume in Profit by Age - A detailed analysis from Glassnode shows the segmentation of Bitcoin spent volume based on the holding age, with vibrant layers indicating different timeframes. .

In contrast, older coins those held for more than six months have largely remained untouched. Their share of activity dropped from 24.7% in December 2024 to just 13.4% now. This means long-term holders are not participating heavily in this rally; they're watching from the sidelines, and perhaps more importantly, they’re not selling.

Long-Term Confidence, Short-Term Energy

This dynamic suggests two very different mentalities are now coexisting in the market. On one hand, short-term traders are clearly driving the current action, feeding momentum and liquidity into the market. On the other, long-term holders who typically set the floor for Bitcoin during bear cycles appear unfazed, signaling continued belief in higher prices to come.

Historically, when long-term holders sit tight during rallies, it reflects bullish conviction. They're not selling into strength, they're waiting for higher returns

What This Means for BTC Going

In many ways, this low-profit-taking environment amid record prices is a bullish signal. When those with the most to gain choose not to cash out, it suggests a collective expectation that prices have room to climb even higher.

Bitcoin has always been about conviction. And right now, the quiet behavior of long-term holders is speaking volumes. If this trend holds, it could mark a new era of maturity for the market where sharp rallies aren’t immediately met with aggressive selling, and deeper structural confidence continues to grow. A continuation of the recently witnessed market behavior will see BTC rally to $120k.