Crypto
New Bitcoin whales spark sell-side risk as unrealized gains hit $9B
Unrealized gains by whale speculators hit their highest levels on record last week, per data going back to 2016.
Cointelegraph•
Unrealized gains by whale speculators hit their highest levels on record last week, per data going back to 2016.
Bitcoin (BTC) whales have more reason to sell than at any time in Bitcoin’s recent history as their unrealized profits hit records.
Data from onchain analytics platform CryptoQuant shows that newer whale investors currently sit on unrealized gains worth exceeding $9 billion.
“Unrealized profit at that scale is exposure. A cohort sitting on a record paper gain can turn into sellers the moment price wobbles, and STH whales are historically the fastest to take profit when it’s available,” it commented.