Bitcoin's Newer Buyers Realize Bigger Gains – Is A $90,000 Now Within Reach?

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

Glassnode data reveals that short-term holders are the primary source of recent profit-taking, not long-term investors.
A crypto trader sets a $90,000–$92,000 price target for Bitcoin in the near term.
Historic Summer Setup: 3 "Power Patterns" Triggering in the next 75 Days - Get The Details Now

Bitcoin's BTC/USD latest price surge has seen newer market participants locking in significant profits, shifting sell-side pressure away from long-term holders and suggesting a potential change in market dynamics.

What Happened: In an X post on June 17, Glassnode data observed that Bitcoin wallets holding coins for less than 12 months accounted for 83% of all realized profits yesterday, with 6–12-month holders alone locking in $904 million, the second-highest daily profit this year.

By contrast, long-term holders (over 12 months) realized only $324 million, reflecting a substantial pullback in profit-taking from more seasoned investors. While prices remain close to their late May 2025 levels, this decline in long-term holder activity suggests reduced sell-side risk and a more bullish supply dynamic.

Also, the trend marks a continuation of last week (June 10), when realized profits from one-year+ holders dropped by 89%, from ~$126 million to just $13.6 million (24-hour simple moving average).

The shift signals that newer investors, especially those who bought in Q4 2024, are now the primary source of sell pressure.

Also Read: Max Keiser Once Predicted Bitcoin Could Hit A $300 Trillion Market Cap — Here’s How Much 1 BTC Would Be Worth If That Happens

Trade Bitcoin, Ethereum, and More Instantly — No Wallets, No Hassle

Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500.

Disclosure: 82% of retail CFD accounts lose money

What's Next: Crypto trader AlejandroBTC says Bitcoin is poised to reach $90,000–$92,000 in the short term, as long as it maintains the current trendline.

However, he also warns of a rising wedge breakdown, a bearish pattern which, if confirmed, could send BTC plunging to $30,000, a scenario he does not wish to see.

Meanwhile, Glassnode points out that despite Bitcoin's larger market cap, its current cycle performance (+656%) remains on par with past bull runs (+1076% in 2015–18, +1007% in 2018–22). This suggests sustained demand growth and ongoing confidence among investors, even as the market matures.

Read Next: