Unrealized gains held by short-term Bitcoin holding whales rose to approximately $9.07 billion on September 4, reaching the highest level recorded since 2016. Citing cross-referenced analyses by CryptoQuant contributors IT Tech from outlets including Bitcoin.com, KuCoin, and FXStreet: on September 5, using the same measurement, the figure fell to about $7.51 billion as prices pulled back, but it still ranks in the historical top five—and all five peak readings within the past two weeks appeared. Another set of on-chain data shows that the 90-day average spent by long-term holders (those holding for more than five years) has risen to roughly 1,500 BTC. Activity is clearly higher than in May—during the ranging period, both new and old capital have been more “restless.”
Let’s make the boundary clear: unrealized gains are a paper exposure, not proof that whales have already sold. It measures mark-to-market profit relative to on-chain cost basis; any real realization still depends on transfers and trades. The cost structure still suggests support may exist, but high unrealized gains also mean the same support is being repeatedly tested by its “own success.” In the short term, it’s more like “there’s a floor, but there could be selling pressure as well.” Reading record-high unrealized gains directly as “must drop” or “must rise” isn’t rigorous.
Market snapshot (CoinGecko): Bitcoin is around $78,700, BNB around $752, and Ethereum around $2,475. This week also depends on the PPI and CPI; position management matters more than slogans.
$BTC $BNB
#比特币 #on-chain data
does not constitute investment advice
Let’s make the boundary clear: unrealized gains are a paper exposure, not proof that whales have already sold. It measures mark-to-market profit relative to on-chain cost basis; any real realization still depends on transfers and trades. The cost structure still suggests support may exist, but high unrealized gains also mean the same support is being repeatedly tested by its “own success.” In the short term, it’s more like “there’s a floor, but there could be selling pressure as well.” Reading record-high unrealized gains directly as “must drop” or “must rise” isn’t rigorous.
Market snapshot (CoinGecko): Bitcoin is around $78,700, BNB around $752, and Ethereum around $2,475. This week also depends on the PPI and CPI; position management matters more than slogans.
$BTC $BNB
#比特币 #on-chain data
does not constitute investment advice
