$BTC whales are sitting on a record amount of unrealized profit.
Short-term whale profits just hit $9.07B, the highest level in the metric’s history, according to CryptoQuant.
That doesn’t automatically mean $9B is about to be dumped. But it does creates a lot of potential sell-side pressure.
But when this much profit is concentrated in newer whale positions, even a small BTC pullback could give some of them a reason to cash out.
Now those same profits could become the selling pressure.
Short-term whale profits just hit $9.07B, the highest level in the metric’s history, according to CryptoQuant.
That doesn’t automatically mean $9B is about to be dumped. But it does creates a lot of potential sell-side pressure.
But when this much profit is concentrated in newer whale positions, even a small BTC pullback could give some of them a reason to cash out.
Now those same profits could become the selling pressure.
