BTC long-term holders sit on 37% unrealized gains over average cost: analyst

On-chain analyst Axel Adler Jr. said Bitcoin long-term holders are sitting on roughly 37% unrealized gains versus their average purchase price after the recent price rise. In a blog post, Adler said BTC was priced at $86,406 as of Sept. 23, while the average cost basis for holders who have kept the asset for more than six months stood at $62,706. A week earlier, unrealized gains relative to that average cost basis were 20%, and the cost basis itself had changed little, indicating the expanded gains came from Bitcoin’s price increase. In early August, the group’s average purchase price and BTC’s market price moved close enough that they nearly slipped into losses.