Despite Bitcoin (BTC) maintaining a price near its all-time high (ATH), the unrealized profits for long-term holders (LTH) are decreasing. According to the Market Value to Realized Value (MVRV) ratio, the current average unrealized profit stands at approximately 220%. In contrast, during previous market peaks, average unrealized profits reached levels of 300% to 350%, indicating that the current profit margin for long-term holders is lower than what was observed in past bull runs.

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