A recent analysis conducted by leading crypto research entity CoinMetrics has highlighted significant shifts in the Bitcoin market, particularly regarding profit realization patterns as the cryptocurrency approaches new price thresholds.
Drop in Realized Profit Among Bitcoin Investors
According to CoinMetrics’ latest insights, Bitcoin’s Realized Profit has encountered a notable decline in recent weeks. This metric serves as a pivotal indicator, reflecting the profits that investors are effectively unlocking through their BTC transactions.
To understand how this calculation works, it assesses the historical transfer prices of Bitcoin when it is sold or transferred. If the latest sale price exceeds the previous acquisition price, the transaction counts as a net gain.
The calculation of Realized Profit involves summing the differences for all transactions that yield a profit across the blockchain. Conversely, the Realized Loss indicator accounts for transactions where the selling price was below the original purchase price, thus capturing losses.
The accompanying chart illustrates the 7-day moving average (MA) of Bitcoin’s Realized Profit over time:
As seen in this graphic, the average Bitcoin Realized Profit exceeded the $1 billion mark for several weeks in late 2025, with a peak near $3 billion occurring in November alongside market lows.
However, by December, this metric dropped sharply to approximately $183.8 million. “This decline in realized profits, especially among established holders, indicates a tapering off of selling pressure that had previously impacted market pricing,” CoinMetrics commented.
Following this decrease in profit-taking, Bitcoin surged back above $94,000 early in January 2026. “As the intensity of sell transactions diminished, the market experienced a stabilization, allowing it to prepare for another upward momentum,” the report emphasized.
While Realized Profit and Realized Loss give insights into immediate gains or losses, unrealized figures hold their own significance. The Market Value to Realized Value (MVRV) Ratio provides key data related to unrealized profits or losses.
In their report, CoinMetrics also delved into this ratio as it pertains to short-term holders (STHs), who typically exhibit less conviction in market movements (holding durations of under 155 days).
The graph indicates that the Bitcoin STH MVRV has recently remained below the 1 mark, signaling that new participants in the market are currently facing net unrealized losses.
Current Bitcoin Price Analysis
This recent analysis comes in the light of Bitcoin’s fluctuation, which recently dropped below $90,000, only to rebound quickly to around $90,900.
