> ## Content Index > Fetch the complete content index at: https://dev.axeladlerjr.com/llms.txt > Use this file to discover other available public pages before exploring further. # Long-Term Holders in Profit Since 2023, With a 72% Cushion - URL: https://dev.axeladlerjr.com/long-term-holders-in-profit-since-2023-with-a-72-cushion/ - Published: 2026-10-13T07:34:33.000Z - Updated: 2026-10-13T07:35:37.000Z - Author: Axel Adler Jr. - Tags: Holder behavior, Adler AM: Bitcoin Morning Brief, #Import 2026-11-01 20:37 Bitcoin is trading 72% above the average cost basis of coins held by long-term holders. By this measure, the cohort has remained in profit since January 2023\. Meanwhile, its average cost basis has been gradually declining since early August. ## TL;DR Long-term holders have remained in profit for almost four years and retain a substantial cushion above their average cost basis. This issue examines what this trend means. ### **Bitcoin LTH Realized Price** ![](https://dev.axeladlerjr.com/content/images/2026/10/Bitcoin-LTH-Realized-Price--USD-.png) Bitcoin LTH Realized Price On October 13, Bitcoin is trading at $83.6K, while the average cost basis of coins held by long-term holders stands at $48.6K. The last time the price was below this level was January 13, 2023\. Since then, its closest approach to the LTH cost basis was in March 2023. From October 6 to October 13, BTC declined from $85.8K to $83.6K, while the average cost basis of coins held by long-term holders remained nearly unchanged at $48.6K. The cohort will move into loss if Bitcoin falls below its cost basis. As long as BTC trades above this level, long-term holders retain a substantial unrealized profit cushion. ### **Bitcoin LTH Realized Price 7D Change** ![](https://dev.axeladlerjr.com/content/images/2026/10/Bitcoin-LTH-Realized-Price-7D-Change-2.png) Bitcoin LTH Realized Price 7D Change The average cost basis peaked at $49.5K on July 30 and has since declined by 1.7%. Since August 1, the weekly change has been negative on 60 of 74 days. The largest weekly decline was 0.34% on August 25\. The indicator currently stands at -0.06%. The decline in LTH holdings remains moderate. Since August, the weekly change has not fallen below -0.34%. More negative readings will indicate an acceleration in selling. A return above zero will indicate that this cohort is accumulating coins. > *Outperform Buy & Hold with a rules-based strategy. One weekly action, clear triggers, and invalidation levels. No guessing.* [*Get access.*](https://a.dler.click/insight?ref=dev.axeladlerjr.com) ### **FAQ** ***Does a decline in LTH Realized Price indicate shrinking holdings or increased selling?*** No. The indicator reflects changes in the average cost basis of LTH coins. ***What is the current unrealized profit for LTH?*** With BTC at $83.6K and an average cost basis of $48.6K, it stands at 72%. This is the average for the entire cohort; individual holders may be at a loss. ### **Conclusion** Bitcoin has remained above the average LTH cost basis since January 2023\. At the current price of $83.6K, the cohort’s unrealized profit cushion stands at 72%. Its current average cost basis is $48.6K. If the price falls below that level, the cohort will move into an unrealized loss. ## Know what matters in Bitcoin before your day starts A 3-minute morning brief, 5 mornings a week - on-chain, ETF flows, derivatives, and macro, with one clear takeaway for today. Get the Brief Email sent! Check your inbox to complete your signup. Free. No spam. Unsubscribe anytime. ### **Live Charts** Explore the metrics behind this brief with live, auto-updating charts: [LTH vs STH Supply](https://dev.axeladlerjr.com/charts/bitcoin-lth-vs-sth-supply/) \- Supply split between long- and short-term holders to track accumulation and distribution. [LTH-SOPR](https://dev.axeladlerjr.com/charts/bitcoin-lth-sopr/) \- Long-term holder profit/loss realization around the 1.0 breakeven threshold. [Realized Price](https://dev.axeladlerjr.com/charts/bitcoin-realized-price/) \- Aggregate on-chain cost basis compared with BTC price and long-term trend. [NUPL](https://dev.axeladlerjr.com/charts/bitcoin-nupl/) \- Net unrealized profit/loss across holders, mapped into cycle sentiment phases. [Holder Behavior](https://dev.axeladlerjr.com/charts/holder-behavior/) \- All holder profitability and supply-cohort charts in one view.