✨️Short-term Bitcoin whales are sitting on the most paper profit in years.
This CryptoQuant chart tracks unrealized P&L for short-term holder whales — big wallets that bought in the last ~155 days and have not sold yet.
• Blue bars = they are in profit
• Red bars = they are underwater
• White line = Bitcoin’s price
Through 2026 those whales spent long stretches in deep red (billions in paper losses) while $BTC chopped from six figures down toward $60k. The latest bounce flipped them hard into the green. The print cited: about $9.07 billion in unrealized profit — the highest since 2016 on this series.
That is paper profit. Nothing is sold until they click sell.
Why analysts flag it: short-term whales have often been quick to take gains when price stalls. A $9B cushion can support a trend — or become supply if BTC rejects $81k and they lock in.
Watch whether that blue spike fades (they sell) or holds (they ride). PPI and Friday CPI can force that choice.
Record paper profit is a warning light, not a sell button by itself. NFA
$BTC
$AAVE
This CryptoQuant chart tracks unrealized P&L for short-term holder whales — big wallets that bought in the last ~155 days and have not sold yet.
• Blue bars = they are in profit
• Red bars = they are underwater
• White line = Bitcoin’s price
Through 2026 those whales spent long stretches in deep red (billions in paper losses) while $BTC chopped from six figures down toward $60k. The latest bounce flipped them hard into the green. The print cited: about $9.07 billion in unrealized profit — the highest since 2016 on this series.
That is paper profit. Nothing is sold until they click sell.
Why analysts flag it: short-term whales have often been quick to take gains when price stalls. A $9B cushion can support a trend — or become supply if BTC rejects $81k and they lock in.
Watch whether that blue spike fades (they sell) or holds (they ride). PPI and Friday CPI can force that choice.
Record paper profit is a warning light, not a sell button by itself. NFA
$BTC
$AAVE
