Realised Benefits for Large Owners of Bitcoin – Addresses holding 10-100 BTC, 100-1K BTC, and 1k—10k BTC have been steadily established in February 2025.
Data from Cryptoquant showed a huge surge in the second half of January, showing up to $3 billion in realized profits. However, since January, these holders have gradually reduced their profits, with February showing flattening or lower profit realizations compared to previous peaks.
This decline has led to large holders being sold in much smaller quantities, contributing to the market’s sideways movement over the past few weeks. The lack of negative realised benefits indicates that these cohorts are not owing any losses and remain profitable as Bitcoin prices remained stable above $90,000.
Large holders have a major impact on Bitcoin prices as they manage a significant portion of the circular supply. According to some estimates, due to a fixed supply of 21 million coins in Bitcoin, addresses holding 10 or more BTC represent an unbalanced share, with 1K+ BTC holders controlling about 40% of the supply Masu.
In contrast to the aggressive sales seen earlier this year, the decline in profit cuts in February could affect both liquidity and market sentiment, potentially supporting price stability at current levels There is. Once these holders recognize profits, they can flood the market with sell orders and reduce upward momentum.
These large cohorts of owners include a wide range of investors including early adopters, funds, exchanges, government, businesses, ETFs and more. Their collective actions could be responsible for some of the modest price actions they saw in the past few weeks.
LTHS is defined as an address that holds Bitcoin for more than 155 days, peaking profitability at 71 in mid-December 2024, standing at 67.2 on February 20, 2025. We support Bitcoin prices not falling below $90,000 this year.
The intersection of large owners and LTHS can be substantial, especially between the 1K-10K BTC cohort. Many large holders are early adopters, institutional investors, or crypto funds who accumulated bitcoin six months ago. However, not all large holders are LTH. While some may have acquired short-term traders and jobs during the 2024-2025 bull run, the dominant overlap highlights a common impact on market trends.
Without losses, the decline in profit realization for both groups in February 2025 suggests a cautious approach amid Bitcoin price stability above $90,000. Since mid-December 2024, LTH P&L has declined from 71 to 67.2, consistent with a decline in profits for large holders, indicating a adjusted market response to price stabilization of $97,000 .
Their effects stem from largely controlling supply and shaping liquidity, demand and emotions. The lack of losses for large owners and a steady decline in LTH profitability balance the market, with both groups contributing to Bitcoin’s current price control.
Post-Bitcoin prices were steady and first appeared on Cryptoslate in February, with large holders keeping their profits down.
