On-chain analyst Axel Adler Jr. analyzed that Bitcoin (BTC) long-term holders are seeing an unrealized profit of about 37% against their average purchase price due to the recent price increase. He explained through his blog, "As of September 23, the BTC price is $86,406, and the average purchase price for long-term holders (6 months or more) is $62,706. Just a week ago, the unrealized profit margin against the average purchase price was 20%, and since that price has barely changed, the expansion of unrealized profit is due to the rise in BTC price. In early August, their average purchase price and the BTC price were close, almost leading to a switch to loss."
