Analysis: If long-term Bitcoin holders take profits, the current return rate is about 290%

Some analysts believe that Bitcoin’s rally will eventually continue after the presidential election after initially stalling. Ryan Lee, chief analyst at Bitget Research, said that BTC prices could pull back by around 30% before resuming their bullish run. In addition, long-term Bitcoin holders (addresses that have held Bitcoin for more than 155 days) are sitting on significant profits, which could increase the risk of further sell-offs as investors may seek to cash out and take profits in the new year. According to Bitbo data, long-term holders have a realized price of $24,298, which would be a profit of about 290% if they sell at the current price ($94,820). However, short-term holders (those who have held Bitcoin for less than 155 days) have a much higher average cost basis, with this group realizing a price of $86,753, which would only be a profit of 9.29% if they sell at the current price. (Cointelegraph)