Long-term Bitcoin holders are now all in profit following BTC’s recent climb above its previous all-time high from November 2021.

As Bitcoin’s price soared above $71,000, the last remaining long-term holders with unrealized losses have now flipped back into profit. According to a report by crypto analysis firm Glassnode on June 4, when Bitcoin was trading around $68,000, a mere 0.03% of long-term holders — those who have held Bitcoin for over 155 days — were still experiencing losses. This group primarily consisted of individuals who purchased Bitcoin during the 2021 bull market, when BTC reached its then-record high of $69,000.

Glassnode highlighted that even at the $68,000 mark, the volume of long-term holders at a loss was minimal, with around 4,900 Bitcoin bought above the current spot price. As long as Bitcoin maintains a price above $69,000 in the coming months, all long-term holders will remain in profit. By August 13, the 155-day threshold will include March 11, a day when Bitcoin surged to $72,110.

As of the latest data, Bitcoin is trading at $71,080 according to CoinMarketCap. Glassnode also noted that short-term holders, defined as those holding Bitcoin for less than 155 days, are now bearing the brunt of unrealized losses. This group largely comprises investors who bought in March, prior to Bitcoin reaching its current all-time high of $73,679 on March 13.

“The Short-Term Holder cohort are shouldering the vast majority of market losses, a condition typically observed during bull market corrections from new ATHs,” Glassnode reported. The recent price surge has sparked renewed market anticipation, with Glassnode declaring, “The first glimmers of market speculation appear to be returning after a multi-month price consolidation.”

Despite nearing the $72,000 mark, Bitcoin has faced resistance and retraced back toward $71,000. Analysts suggest several factors could be contributing to this hesitation, including ongoing regulatory uncertainties and concerns over potential negative macroeconomic events.

Upcoming economic reports in the United States, such as the employment report on June 7 and the Consumer Price Index on June 11, could influence Bitcoin’s price trajectory. Marcus Thielen, head of research at 10x Research, posits that if these reports show lower-than-expected figures, it could help propel Bitcoin to new all-time highs.

In summary, Bitcoin’s recent surge past $71,000 has turned all long-term holders profitable, marking a significant milestone for the cryptocurrency. However, short-term holders continue to experience unrealized losses, and the market awaits further economic indicators that could influence Bitcoin’s path forward.