Bitcoin Reaches New ATH of $111,880 Amid Mixed Whale Activity

Bitcoin (BTC) reached a new all-time high of $111,880 on Binance after rebounding over 45% from an April low of around $76,000. Whale activity indicates mixed reactions:

New whales, holding BTC for less than 30 days, are taking profits, increasing selling pressure.
Old whales, with holdings over six months, show minimal selling, indicating confidence in price appreciation.
Whales active between 7 to 30 days have engaged in moderate profit-taking.

The Net Realized Profit/Loss (NRPL) during this surge is lower than previous market tops, suggesting weaker profit-taking momentum. NRPL measures the net profit or loss when investors sell Bitcoin based on acquisition versus sale price. A high NRPL reflects strong profit-taking; a low NRPL indicates reduced enthusiasm.

Short-term, continued profit-taking by new whales may lead to a price correction, potentially dropping BTC to the $100,000-$105,000 range. Mid-term outlook remains optimistic if old whales maintain positions and NRPL stays low, supporting bullish continuation post-consolidation. Many new investors are sitting on substantial unrealized gains without panic selling as BTC trades near ATHs, currently priced at $111,500, up 4.2% in 24 hours.