Bitcoin whales are holding their ground, with no signs of a major sell-off on the horizon. According to CryptoQuant founder Ki Young Ju, these large holders haven’t accumulated enough unrealized profits to begin dumping their assets just yet.
In an Oct. 2 post, Ju noted that newer whales — those who’ve held Bitcoin for up to five months — would only realize a modest 1% profit if they sold now. Even older whales, though slightly better off, haven’t seen significant gains during the current market cycle.
Ju predicts that Bitcoin whales are waiting for retail investors to flood back into the market before considering selling off their positions.
Meanwhile, Bitcoin has faced renewed volatility this week, partly driven by geopolitical tensions. Some analysts speculate that Bitcoin could drop to $54,000 as investors flock to traditional safe-haven assets like gold.
