New Bitcoin Whales Back In Green: 1.14 Million BTC No Longer Underwater

On-chain data shows the short-term holder Bitcoin whales have returned to a state of profit following the recovery surge in the asset’s ￰0￱ Is Back Above Realized Price Of New Whales As explained by on-chain analytics firm CryptoQuant in a new post on X, the Bitcoin short-term holder whales are back in the ￰1￱ “ short-term holders ” (STHs) refer to the BTC investors who purchased their tokens in the past 155 days, while “ whales ” are the holders with more than 1,000 BTC in their ￰2￱ STH whales, therefore, would be the big-money traders who got into the market during the last five ￰3￱ are also known as “new whales.” STHs are generally fickle-minded investors who tend to panic during periods of volatility.

Likewise, they are also prone to showing a reaction when their break-even level gets retested, or their profit-loss status gets ￰4￱ recent bearish action in the Bitcoin price meant that the STHs as a whole fell into ￰5￱ recovery that the coin has seen in the last few days, however, has resulted in a return of profitability for the ￰6￱ is the chart shared by CryptoQuant, which shows the trend in the “ Realized Price ” (a measure of the average cost basis) of the STH whales over the last few ￰7￱ displayed in the graph, the Bitcoin STH whales currently have their Realized Price around $112,788. At present, the cryptocurrency’s price is sitting 2% above this mark, implying the group is in a net unrealized profit of 2%.

While this isn’t too significant a profit, the fact that the STH whales are no longer under distress could still be notable. “This marks a key psychological shift for the market,” noted the analytics ￰8￱ STH whales hold about 1.14 million BTC today, as the below chart ￰9￱ new whales have seen some rapid growth in their combined balance recently, but the long-term holder (LTH) or old whales still dominate the cryptocurrency’s ￰10￱ holding on such a large portion of the supply, the LTH whales haven’t been participating in much profit-taking during the past few days, as pointed out by CryptoQuant author IT Tech in an X ￰11￱ the chart, it’s apparent that Bitcoin exchange deposits involving coins older than six months have stayed muted recently.

“This signals that long-term conviction remains strong, with little sign of distribution,” explained the ￰12￱ Price At the time of writing, Bitcoin is trading around $115,000, up almost 3% over the last week.