Unrealized profit of novice whales reached a record $7.3 billion
In turn, the indicator of long-term holders is 72% lower than the record of the bull market in 2021
According to the founder of the analytical company CryptoQuant, Ki Yang Ju, on February 28, the unrealized profit of large short-term bitcoin holders reached a record at $ 7.3 billion, "which indicates an unprecedented growth of the asset." In turn, the indicator of long-term whales is 40 billion dollars, which is 72% lower than the peak reached in 2021 (145 billion).
Yang Ju clarified that investors with a balance of more than 1,000 coins stored in an account for more than 155 days, not affiliated with centralized exchanges (CEX) or mining companies, fall into the category of long-term large holders.
The day before, analysts at Santiment reported that the price of BTC jumped to its maximum since December 3, 2021. This happened after the MicroStrategy analytical software company reported another increase in investments in the asset. MicroStrategy is the largest holder of BTC among public companies: it has 193,000 coins in its accounts, and unrealized profits are approaching $ 5 billion.
On the same day, the S&P 500 index fell 0.5%. Santiment noted that the historically low correlation between the cryptocurrency and stock markets led to the largest jumps in the rates of BTC and altcoins.
Later, the company added that bitcoin is gradually approaching the historical maximum of $69,000, set in November 2021, and traders are showing extremely high interest in the asset compared to altcoins.
Source: https://getblock.net/news/unrealized-profits-of-fin-whales-hit-record-73-billion
