Important takeaways
- According to CryptoQuant, Bitcoin whales are back in profit as the market price has risen above the “New Whale’s Realized Price” of $112,788.
- The ‘New Whales Realized Price’ metric is a valuable indicator that tracks 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 indicates these large owners are now above their average acquisition costs.
The metric tracks the average price at which recent large-scale Bitcoin holders acquired their positions, serving as a key indicator of the options’ profitability levels.
Bitcoin whales have actively accumulated during periods of low public sentiment, positioning themselves for potential market reversals. New data from the chain shows that these large holders are increasing their positions while retail investors are exhibiting panic selling behaviors, indicating a divergence in market psychology.
Election activity has seen increased buying on exchanges, with these influential market players continuing to build holdings amid retail sales.
