Bitcoin STH Whale Profits Hit $10.1 Billion, Cycle High Achieved
On-chain data indicates that Bitcoin short-term holder whales are experiencing significant unrealized gains, totaling $10.1 billion, the highest of the current cycle.
Key Points
- Bitcoin short-term holder (STH) whales, entities with over 1,000 BTC acquired within the last 155 days, have reached a new high in unrealized profits following a recent rally.
- Unrealized P&L measures the net unrealized profit or loss for Bitcoin holders, which for STH whales has sharply recovered into the positive zone after previous declines.
- The potential for profit-taking by these whales could impact market dynamics, depending on incoming demand.
- This cycle has seen 3.45 million BTC transferred from long-term holders to short-term holders, comparable to trends observed in 2016–17 but at much higher prices.
- Currently, Bitcoin is trading at approximately $124,600, marking an 11% increase over the past week.
