3 hours ago
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Newbie Bitcoin Whales Realize Losses, Old Whales Remain Inactive
Recent data indicates that new Bitcoin whales have been realizing losses, while long-term whales remain mostly inactive.
Key Points:
- New whales, holding at least 1,000 BTC within the past 155 days, are selling at a loss due to recent price declines.
- Old whales, with longer holding periods, show minimal selling activity despite market volatility.
- The muted activity of old whales through the market's bearish trend and subsequent recovery is notable.
- Bitcoin's price has recovered to $92,300, surpassing key cost basis levels, suggesting strong recent buying interest.
- The UTXO Realized Price Distribution (URPD) identifies significant demand around $84,500 and resistance at $112,300.
