Bitfinex said on Oct. 15 that long-term Bitcoin holders are sitting on materially larger unrealized gains than newer market entrants. According to the firm, the average cost basis for long-term holders is about $49,300, leaving them with paper gains of roughly 64% at current levels. Recent buyers, by contrast, have an average entry price of about $74,400 and are up only around 9%.
The exchange said this gap matters if BTC extends its decline. With a much thinner profit cushion, recent buyers could be the first group to face heavier selling pressure in a weaker market. Long-term holders, on the other hand, still have more room to absorb downside because their unrealized gains remain significantly larger. The comparison highlights how different holder cohorts may react differently to the same price move, depending on their entry levels and remaining buffer.
Bitfinex said on Oct. 15 that long-term Bitcoin holders have an average cost basis of about $49,300 and are currently sitting on unrealized gains of roughly 64%. Recent buyers have an average cost basis of about $74,400, with unrealized gains of only around 9%.
According to Bitfinex, if BTC falls further, recent buyers may be the first to come under greater selling pressure. Long-term holders, by comparison, have a much thicker profit cushion.
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