Bitcoin's ATH met with mixed reactions from whales: what is the market signal?
Yesterday, Bitcoin ($BTC ) reached a new all-time high (ATH) of $111,880 on the cryptocurrency exchange platform Binance, after months of declines during the first quarter of the year. The leading cryptocurrency has recovered more than 45% from its low on April 6 of approximately $76,000, and recent behavior from whales suggests that long-term holders see greater upside potential.
Bitcoin's ATH generates mixed reactions among whales
According to a recent post from CryptoQuant Quicktake by contributor Crazzyblockk, new whales (wallets that have held substantial amounts of BTC for less than 30 days) have been aggressively taking profits during the current price surge, contributing to increased selling pressure.
In contrast, old whales (wallets that have held a significant amount of BTC for more than six months) have shown minimal selling activity. This indicates long-term confidence in Bitcoin and expectations of continued price appreciation.
Meanwhile, whales active between 7 and 30 days ago have recorded moderate profit-taking, suggesting cautious participation in the current surge. While the moderate activity of old whales is a positive sign, some indicators suggest caution regarding the sustainability of the rally.
For example, the Net Realized Profit/Loss (NRPL) during the current price increase is significantly lower than the levels observed during previous market peaks in 2024-2025. This indicates less overall profit-taking momentum among investors.
