Whales Profitability Lags in Potential Market Correction CryptoQuant CEO Ki Young Ju suggests that whales, or large Bitcoin holders, stand to gain the least if the current bull market concludes prematurely. This observation stems from on-chain data indicating a lack of significant profit for new whales entering the market during this cycle. Ju highlights that these whales are less likely to sell their BTC until retail investors exhibit signs of fear of missing out (FOMO). Crypto analyst Ali Martinez adds that whales are diversifying their BTC holdings across multiple addresses, with only 1,975 addresses currently holding between 1,000 and 10,000 BTC. This analysis implies that whales are taking a cautious approach, potentially anticipating a market correction. If the bull market ends prematurely, whales may face minimal profits compared to previous cycles.