Bitcoin (BTC) has shown that, above the $107,000 threshold, recent rallyings are being driven by robust purchases just under the highest ever consolidation. GlassNode said on May 20th Report.
Despite trading around 40% higher six weeks ago and setting a new record at $106,500 at the end of the latest week, Bitcoin has been stuck between $102,000 and $105,000 over the past two weeks.
The report noted that investors’ profitability and robust capital inflows indicate market strength.
Investor profitability improves
Short-term holders (STH) have experienced a financial recovery, with a 71% increase in profit supply compared to the previous month. This shift represents the second-largest profitability rise in this cohort on record.
GlassNode’s MVRV (market value to realised value) ratio shows a similar rebound. The overall Bitcoin MVRV ratio rose from 1.74 to 2.33, with the unrealized increase from 74% to 133%.
The STH MVRV shifted from 0.82 to 1.13, moving from an unrealized loss of 18% to a gain of 13%. For long-term holders (LTHS), MVRV increased from 2.91 to 3.30, changing from 191% to 230% with unrealized profits.
These metrics show widespread portfolio improvements, and GlassNode is linked to increasing investor confidence.
Realized profits and market balance
As the portfolio recovers, many investors are securing profits. Over the past 30 days, STHS has recognized profits of $11.4 billion from $1.2 billion over the past 30 days. Daily realised profit peaked at $747 million as Bitcoin was decisively above its STH cost basis.
The report noted that the STH surge achieved profit/loss rates, now exceeding the level seen at 92% of previous trading days. Historically, rising measurements occur at bullish market stages or as gatherings approach fatigue.
However, the current sell-side risk ratio is well below the peak level. This indicates that profit acquisition is not yet an overwhelming new demand. This metric measures whether the holder is locked with a significant profit or loss
These metrics complement the Bitcoin realization cap, reaching a high of over $900 billion, an increase of 4.2% over the past month. The metric aggregates the total capital stored in the network based on the price the investor moved each coin last.
This steady accumulation indicates that the market is absorbing profits without major dislocation.
GlassNode concludes that Bitcoin is experiencing improvements in investors’ situations through profit-taking activities that mark a meaningful capital inflow, reduced unrealized losses, and healthy bull market stages.
Bitcoin Market Data
When reporting 10:21pm UTC in May. 20, 2025Bitcoin ranks number one in terms of market capitalization, and the price is above 1.17% Over the past 24 hours. Bitcoin has a market capitalization 2.12 trillion dollars 24-hour trading volume $55.2 billion. Learn more about Bitcoin›
Overview of the Crypto Market
When reporting 10:21pm UTC in May. 20, 2025Crypto market totals are evaluated by $3.35 trillion There is a 24-hour volume $124.4 billion. Bitcoin’s advantage is currently underway 63.17%. Crypto Market Details›