Bitcoin Whale Analysis: Profits and Losses by CryptoQuant

Bitcoin Whale Analysis: Profits and Losses by CryptoQuant

The analytics company CryptoQuant has focused on the behavior of bitcoin whales, the major holders of this cryptocurrency. Their analysis shows how old and new whales are reacting to the current price drop, which has reduced Bitcoin's value to $58,000.

New and Old Whales

New whales, which hold Bitcoin for less than 155 days, show a loss of 6.53%, as their average cost is $62,038. Yet these investors have not thought to stop buying, indicating their belief in long-term growth.

On the other hand, old whales, holding Bitcoin for more than 155 days, boast a gain of 108.36% as their cost is significantly lower at $27,843. These seasoned investors are also not planning to sell, indicating their expectation of further price growth.

Miners and Traders

The miners, which have costs of USD 43,179, are profiting 38.91%. Despite this profitability, they are not resorting to mass selling, which further supports the stability of the market.

Active traders on Binance have a base cost of USD 55,471, securing a profit of 8.17%. Their tendency to make quick profits does not cause large sell-offs and also contributes to overall stability.

CryptoQuan's conclusions

CryptoQuant concludes that the old whales are holding their positions, reducing selling pressure. New whales and traders are actively buying, showing their optimism about Bitcoin's future. The absence of panic selling from the perspective of miners and traders sets the stage for short-term market stability.

Team Coingarage