New Bitcoin Whales Buying Twice as Much as Old Holders
Reports from the CEO of CryptoQuant suggest that new crypto whales are acquiring Bitcoin at a faster rate than longer-term holders. Ki Young Ju reveals that the initial investment of these new whales is almost double the cumulative total of older whales.
Defining New vs. Old Whales
- New whales: Addresses with at least 1,000 Bitcoin and an average coin age of less than 155 days.
- Old whales: Holders with a minimum of 1,000 Bitcoin and an average coin age of 155 days or more.
Ownership Landscape Shift
The average dormancy of Bitcoin has reached a 13-year peak, suggesting a transfer of old Bitcoins to new holders. This shift in the ownership landscape raises the question of who the new major shareholders are.
Analyzing Market Cycle Profits
Ki Young Ju examines the unrealized profit of BTC in the current market cycle:
- Old whales: +223%
- New whales (TradFi/ETFs): +1.6%
- Small miners: +131%
- Big miners: +81%
Bitcoin Market Overview
As of now, Bitcoin is trading at $64,222. The leading cryptocurrency has experienced a 3% decrease in the last 24 hours but has seen a 5% increase over the past week.
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Hot Take: New Whales Shaping the Bitcoin Landscape
With new whales demonstrating significant investment in Bitcoin compared to old holders, the ownership landscape of the leading cryptocurrency is evolving rapidly. It is essential to monitor these trends to gain insights into the shifting dynamics of the market.
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