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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Bitcoin Newbie Whales Now Sitting On $6.9 Billion In Losses, Most Since 2023

Keshav Verma
Keshav Verma
11 hours ago
2 mins read
Bitcoin Whales

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On-chain data shows the recent bearish Bitcoin price action has put the network’s short-term holder whales into a significant unrealized loss.

New Bitcoin Whales Have Dived Underwater

In a new post on X, on-chain analytics firm CryptoQuant has discussed about the latest trend in the profit-loss situation of the short-term holder Bitcoin whales. The “short-term holders” (STHs) broadly refer to the BTC investors who purchased their coins within the past 155 days.

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The STH whales (or “new whales”) are the holders with 1,000+ BTC (equivalent to $110.8 million at the current exchange rate) who got into the market during the last five months.

Now, here is the chart shared by the analytics firm that shows the trend in the net unrealized profit/loss held by the STH whales over the past year:

Bitcoin STH whales
The value of the metric seems to have plummeted in recent days | Source: CryptoQuant on X

As displayed in the above graph, the Bitcoin STH whales have seen their profit-loss balance lean heavily into the underwater territory following the recent bearish wave in the cryptocurrency’s price. This means that the members of this cohort are now carrying a heavy amount of net loss.

More specifically, the STH whales are holding about $6.95 billion in unrealized loss, which is the largest for the group since October 2023, about two years ago. This indicates significant pressure among big-money investors, especially considering that the STHs control a notable chunk of the whale Realized Cap.

Bitcoin New Whale Realized Cap
The breakdown of the BTC Realized Cap between new and old whales | Source: CryptoQuant on X

The Realized Cap is an indicator that basically measures the total amount of capital that Bitcoin investors have put into the cryptocurrency. The Realized Cap of the new whales, in particular, corresponds to the big-money capital that came into the network during the past 155 days.

From the above chart, it’s apparent that the new whales today control around 45% of the total whale Realized Cap, which is a new record. Considering that the cohort as a whole is underwater, this capital is naturally being held at a net loss now.

The recent growth in the Realized Cap of the STH whales has come as the long-term holders (LTHs), covering investors with a holding time greater than the STH upper limit of 155 days, have been participating in distribution.

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As the chart shared by CryptoQuant community analyst Maartunn shows, 337,300 BTC has exited the wallets of the Bitcoin LTHs over the last 30 days.

Bitcoin LTH Selloff
The net change in the holdings of the BTC LTHs | Source: @JA_Maartun on X

So far, new capital has been coming in to absorb this selloff from the HODLers, but with the STH whales now under pressure, demand for the cryptocurrency may be starting to weaken.

BTC Price

At the time of writing, Bitcoin is trading around $111,000, down 1.7% over the last week.

Bitcoin Price Chart
The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView
Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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