CryptoQuant reports Bitcoin whales back in profit at $112,788
Key Takeaways
- According to CryptoQuant, Bitcoin whales are back in profit as the market price has risen above the “New Whales Realized Price” of $112,788.
- The 'New Whales Realized Price' metric is a valuable indicator, tracking when large new Bitcoin holders are above or below profitability.
Bitcoin whales have returned to profitability as the cryptocurrency reached $112,788, with CryptoQuant’s New Whales Realized Price metric indicating these large holders are now above their average acquisition costs.
The metric tracks the average price at which newer large-scale Bitcoin holders acquired their positions, serving as a key indicator of whale profitability levels.
Bitcoin whales have been actively accumulating during periods of low crowd sentiment, positioning for potential market reversals. Recent on-chain data shows these large holders increasing their positions while retail investors exhibit panic selling behaviors, indicating a divergence in market psychology.
Whale activity has shown increased buying on exchanges, with these influential market participants continuing to build holdings amid retail sell-offs.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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