Bitcoin Investors Fight Over Who Gets to Cash Out First-Spoiler: It’s the Old Folks

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Look, apparently the on-chain data, which is basically the crypto equivalent of some nerd’s basement chart collection, shows the Bitcoin profit-taking spree is now courtesy of the guys who bought last cycle. Yup, the last group to really get into the party. December? Pfft-nope, this time it’s the old timers cashing out. 🙄

Long-Term Holders, or “The Diamond Hands Club,” Are Starting to Blink

According to some fancy analytics firm called Glassnode-sounds like a rock band-they’re talking about the “Realized Profit” of the long-term holders. Basically, the guys who hold onto their Bitcoin for more than 155 days, like it’s some sort of emotional investment. The longer they hold, the less they’d sell, right? Wrong. Even the strongest hands love a quick sell when the price hits some sky-high. It’s like, “Oh, this is my chance to vanquish my parents’ financial fears!”

And this year’s rally? Made them break out the champagne and sell some. As you can see in this chart (which looks like my morning coffee order):

“Realized Profit” is just a fancy way of saying, “How much money I made, and I’m finally ready to spend it on something stupid.” During July, these long-term holders were cashing out over a billion bucks a day. Billion. With a B. They’re basically busily turning their patience into new cars and maybe a yacht or two.

The Vintage Investors Are Selling Too, and They’re Not Young Either

Back in the day-like 2020-2022-these investors were the *rookies*. The “I just bought my first Bitcoin on a whim” crowd. Now? They’re in the 3-5 year range, which means they’re not teenagers anymore-they’re the grumpy old guys who bought at the last cycle and finally got tired of waiting. And when they see green, they cash out, because hey, they’ve earned it-probably more than their parents did in a lifetime.

This vintage crew? They’re the “been here, sold that, and ready to cash out again” types. The recent push upwards was enough to make them consider selling, and who can blame them? That’s just smart investing-which is another word for “covering your bets”.

Now, it’s quiet for now, but it’s like the calm before the storm-maybe they’re done, or maybe they’re just sharpening their selling knives for round two. Who knows? It’s crypto, after all.

The Price of this Digital Gold?

As I write this, Bitcoin’s hanging around $119,500, up more than 4.5% just this week. So, basically, it’s doing what it always does-rises, then drops, then rises again. Like a bad for-profit marriage. And here’s a chart for you-look at that rally:

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2025-08-12 03:13