Bitcoin New Whale Loss-Taking Fades: End Of Capitulation?
Recent on-chain data indicates that loss-taking by new Bitcoin whales (holders of over 1,000 BTC acquired within the last 155 days) has flattened, suggesting a potential pause in their capitulation. These whales were primarily responsible for significant realized losses during Bitcoin's decline from $124,000 to $84,000, with one spike exceeding $600 million. However, as BTC's price stabilized recently, the Realized Profit/Loss metric for both new and old whales has returned to neutral levels, meaning they are now transacting near their cost basis. While it's unclear if whale capitulation has fully ended, their selling pressure has currently subsided. Bitcoin, which briefly surpassed $90,000 this week, has since retreated to around $87,000.
bitcoinist12/25 15:16