Glassnode
Glassnode's entity-adjusted Bitcoin short-term holder realized profit metric printed $35,661,479 in its 24-hour moving average, a sharp jump from $420,690 ten minutes earlier and the highest reading the indicator has shown in months. The figure captures the total USD profit realized by holders who acquired their coins within the last 155 days, with internal transfers stripped out via entity clustering.
Why it matters
Short-term holder realized profit is one of the cleanest on-chain reads of local-bottom buyers taking gains. The metric spikes when coins bought near recent lows move on-chain at higher prices, meaning the cohort that timed the bottom is now distributing into the rally rather than waiting for further upside. Glassnode's entity-adjusted variant excludes in-house transfers between addresses controlled by the same actor, so the figure reflects genuine sell-side flow rather than wallet reshuffling.
Market impact
The STH profit-taking is hitting the market alongside a separate wave of long-term holder loss realization, with cycle-top buyers using the relief rally as an exit opportunity at a smaller loss than sub-$60K prices allowed. Two cohorts are selling into the same recovery: local-low buyers locking in gains, and underwater long-term holders capping their losses. The convergence is the kind of dual-cohort distribution that historically caps short-term upside before consolidation, and it is worth watching whether the realized profit metric sustains near current levels or fades as fresh supply is absorbed.
Source: [Title: Bitcoin Entity-Adjusted STH Realized Profit Chart - Glassnode](https://studio.glassnode.com/charts/indicators.RealizedProfitSthAccountBased?a=BTC&chartStyle=column&mAvg=24&mScl=lin&pScl=lin&resolution=1h&s=1768287600&sma=48&u=1784127600&zoom=)
Frequently asked questions
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What does the entity-adjusted STH realized profit metric measure?
It captures the total USD profit realized by Bitcoin holders who acquired their coins within the last 155 days, with internal transfers between addresses owned by the same entity excluded so the figure reflects genuine sell-side flow.
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Why did the latest reading of $35.7M stand out?
The 24-hour moving average jumped from $420,690 ten minutes earlier to $35,661,479, the highest reading Glassnode has posted on the indicator in months and a sharp acceleration in short-term holder profit-taking.
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How does this metric differ from the standard STH realized profit?
The entity-adjusted version excludes volume transferred between addresses clustered under the same owner, so wallet reshuffling does not count as realized profit. The standard version does not apply this filter.
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What does it mean when STH profit-taking coincides with LTH loss realization?
It signals two cohorts selling into the same rally for opposite reasons: local-low buyers locking in gains, and underwater cycle-top buyers capping their losses. The convergence tends to cap short-term upside before consolidation.
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Who is defined as a short-term holder for this metric?
Short-term holders are entities whose averaged purchasing date falls within 155 days, with the cut-off weighted by a logistic function centered at 155 days and a 10-day transition width.
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