$100K Cost Basis Strengthens Bitcoin’s Floor as $3.5B in Profits Realized

$100K Cost Basis Strengthens Bitcoin’s Floor as $3.5B in Profits Realized

Short-Term Holders Turn Six-Figure Buyers as Massive Profit-Taking Surfaces

Bitcoin has entered a pivotal phase as speculators now hold an average cost basis of over $100,000, signaling a potential floor for prices despite a cooling market. The shift, tracked by on-chain analytics firm Glassnode, positions $100,000 as a new psychological and technical support level—a significant milestone in the cryptocurrency’s ongoing bull cycle.

Speculators Become Six-Figure Bitcoin Buyers

According to Glassnode’s latest data, short-term holders (STHs)—investors who bought in within the last six months—have now paid an average of over $100,000 per Bitcoin. This group, known for their sensitivity to price volatility, typically represents speculative capital and fast-moving sentiment.

“The realized price for this class of investor has reached six figures for the first time,” Glassnode noted.

The realized price (cost basis) often acts as a key support zone during bull markets. A cost basis above $100K suggests any correction toward that level could be met with strong buying demand.

$3.5 Billion in Profits Taken in 24 Hours

Even with bullish signals on the charts, long-term and short-term holders alike are locking in massive profits. Within just 24 hours leading up to Tuesday at 4 a.m. ET, realized gains amounted to $3.5 billion, making it one of the largest profit-taking days of 2025, according to Glassnode.

“Driven mostly by long-term holders,” Glassnode reported in a post on X.

This activity marks a shift in tone. While long-term holders (LTHs) usually provide price stability, the temptation to take profits around record highs is proving too strong, especially as nearly 99% of the total Bitcoin supply sits in profit.

Glassnode: Signs of Euphoria, Signals of Risk

Glassnode’s latest Market Pulse report underscored that capital flows remain healthy, but warned of caution. Though long-term holders still dominate the market, rising short-term activity and near-universal profitability are typically seen during overheated conditions.

“Realized profit-taking is rising and nearly 99% of the supply is in profit, suggesting elevated euphoria and potential risk of corrections,” the report stated.

Mysterious Whale Awakens, Sends 40,000 BTC to Galaxy Digital

In a dramatic move, a 14-year-dormant wallet sent 40,000 BTC—half of its holdings—to a wallet at Galaxy Digital. This address is tied to a mystery owner of 80,000 BTC, which had remained untouched for over a decade until this week.

According to blockchain tracking firm Arkham, the whale’s reemergence coincided with this week’s massive profit-taking wave.

Conclusion

With $3.5 billion in realized profits, a record $100K cost basis for speculators, and whales stirring from dormancy, Bitcoin’s next move will be shaped by whether this euphoria cements a long-term floor—or signals the start of a deeper correction.