Bitcoin Long-Term Holder Supply Drops as New LTHs Enter Market at a Loss

On-chain data show Bitcoin long-term holder (LTH) profitability is weakening: only 66.5% of LTH supply is currently in profit, a reading near the lower historical range and approaching minus one standard deviation. Analyst DarkFost notes that coins maturing into the LTH bucket (six-month threshold) were bought at higher prices — around October — so newly classified LTHs are entering at unrealized losses. That lagged maturation effect can push LTH profit metrics lower even as spot BTC price recovers, and will likely persist until prices revisit levels from six months prior. The situation signals stress in LTH metrics but the report says conditions have stabilized recently rather than deteriorated further, creating a cautious market backdrop for BTC.