Glassnode: Bitcoin profit-taking “reset” before the latest rally — here’s what the on-chain data shows On-chain analytics firm Glassnode’s latest weekly report finds that Bitcoin’s profit realization dropped sharply just before the recent price surge — a reset that appears to have removed selling pressure and helped fuel the rally. What Glassnode measured - Realized Profit: an on-chain indicator that sums the net gains investors lock in when they move or sell coins. For each coin transferred, the metric compares the coin’s previous transaction price (cost basis) with the current sale price; if the sale price is higher, the difference is added to Realized Profit. - Realized Loss: the counterpart that records transfers where the sale price is below the prior cost basis. - MVRV (Market Value to Realized Value) Ratio: used to gauge unrealized profits or losses across holder cohorts — Glassnode focused on short-term holders (STHs), defined as addresses with a holding time of 155 days or less. Key on-chain moves Glassnode highlights - During much of Q4 2025, the 7-day moving average of Bitcoin Realized Profit stayed above $1 billion. A pronounced spike in November reached nearly $3 billion and coincided with Bitcoin’s bottom that month. - In December, realized gains collapsed to about $183.8 million. Glassnode interprets that drop as a cooldown in profit-taking, writing that “this deceleration in realized gains, particularly among longer-term holders, signalled an exhaustion of distribution-side pressure that had been anchoring price action in the prior quarter.” - After profit realization eased, BTC climbed above $94,000 during the first week of 2026. “As sell-side intensity eased, the market was able to stabilize, regain composure, and support a renewed upside impulse,” Glassnode added. Short-term holders remain underwater - Glassnode’s STH MVRV has been below 1 recently, meaning newer entrants (<=155 days) are, on net, holding unrealized losses — a reminder that part of the market is still underwater even as longer-term selling tapered. Price context - Bitcoin briefly dipped under $90,000 earlier in the day but later recovered to roughly $90,900. Takeaways - A marked reduction in realized gains — especially from long-term holders — appears to have removed a layer of selling pressure, creating room for the recent upward move. - However, short-term holders remain in net unrealized loss, which could influence near-term market dynamics as positions and sentiment evolve. Glassnode’s on-chain read gives a clear view: profit-taking slowed, allowing price support to rebuild — but not all participants are in the green yet. Read more AI-generated news on: undefined/news

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