Newbie Bitcoin Whales Capitulating, But Old Hands Stay Silent
The post Newbie Bitcoin Whales Capitulating, But Old Hands Stay Silent appeared on BitcoinEthereumNews.com.
On-chain data shows New Whales on the Bitcoin network have been realizing losses recently, while Old Whales have remained at the sidelines. Bitcoin Has Faced Loss Selling From The Newbie Whales In a new post on X, CryptoQuant community analyst Maartunn has talked about the latest trend in the profit/loss realization behavior of the Bitcoin whales. “Whales” broadly refer to the BTC investors that hold at least 1,000 tokens in their balance. At the current exchange rate, the cutoff for the cohort is equivalent to $91.6 million, which is quite significant. As such, this group represents the big-money hands of the market, who can carry some degree of influence. Whales can be divided into two subgroups based on holding time. Investors of this size who purchased their coins within the past 155 days are known as the short-term holder (STH) or New Whales. Similarly, whales with a longer holding time are called the long-term holder (LTH) or Old Whales. Now, here is the chart shared by Maartunn that shows the trend in the net amount of profit/loss that these Bitcoin whale groups have been realizing through their selling over the last few months: As displayed in the above graph, the Bitcoin New Whales have shown some loss realization spikes recently. This underwater selling from the cohort has come as the cryptocurrency’s price has gone through a decline. The New Whales include the inexperienced hands of the market who tend to easily panic in the face of volatility. It would appear that this quality of the group has held through the latest crash as well. The Old Whales, on the other hand, are considered to represent the resolute side of the network. From the chart, it’s visible that there has been some loss selling from these large dormant entities recently, but…
