#Are Bitcoin Whales Profitable Again?
Bitcoin whales are once again finding themselves in a profitable position as the cryptocurrency's market price has surged past the significant threshold of $112,788. This price point aligns with what is known as the New Whales Realized Price, a pivotal metric that indicates whether newly large-scale Bitcoin holders are operating at a profit or a loss.
Understanding the New Whales Realized Price is essential. This metric tracks the average acquisition cost of bitcoin for new large holders, helping to gauge the overall profitability of these market participants. Recently, as the price of Bitcoin has crossed the $112,788 mark, it confirms that many of these new whales are now above their average buying prices.
#How Are Whales Positioning Themselves?
Bitcoin whales have been strategically accumulating their assets during phases of low retail sentiment. This can be seen in recent on-chain data which reveals that these sizeable holders have been increasing their positions while many retail investors are engaging in panic selling. The contrasting behaviors between whales and retail investors signal a divergence in market psychology, suggesting that whales may be anticipating a market reversal.
Furthermore, the activity of these large holders on exchanges shows an uptick in buying. They are capitalizing on the retail sell-offs, demonstrating their willingness to build their holdings even amid tougher market conditions. This strategy underlines their confidence in Bitcoin's potential future performance.