Bitcoin Cohorts Unrealized Profits Exploration
Exploring the total unrealized profits held by different Bitcoin on-chain groups, CryptoQuant founder and CEO Ki Young Ju shared insights on Twitter that shed light on the profits accumulated by various cohorts.
Bitcoin Whales and Their Profit Categories
Discussing four primary groups, Ki Young Ju highlighted the following categories:
- Short-Term Holder (STH) Whales
- Investors with at least 1,000 coins purchased within 155 days
- Long-Term Holders (LTHs) Whales
- Investors holding for more than 155 days
- Miners with 100-1,000 BTC
- Miner Whales (1,000 BTC+)
Unrealized Profit Ratio and Group Dynamics
The Unrealized Profit Ratio tracks the transaction history of coins to determine the profits unrealized by investors relative to their total market cap. Key takeaways include:
- LTH whales hold 223% profits, signaling substantial gains for long-time investors
- Small miners see 131% profits, outperforming mining companies with 81% profits
- STH whales exhibit only 1.6% profit, reflecting lower returns attributed to recent high buy-in prices
Observations on Profit Distribution
Regarding the Unrealized Profit Ratio across different Bitcoin cohorts, CryptoQuant’s CEO mentioned a perceived lack of profit saturation to indicate the end of the current market cycle.
Data Insights for Bitcoin Price
Bitcoin maintains stability near the $64,300 mark amidst sideways trading patterns, sustaining its recent price trend.
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