Bitcoin ATH Met With Mixed Whale Reactions – What’s The Market Signal?
Bitcoin (BTC) reached a new all-time high (ATH) of $111,880 on Binance, rebounding over 45% from an April low of approximately $76,000. New whales have been taking profits, increasing selling pressure, while old whales show minimal selling, indicating long-term confidence. Whales active 7 to 30 days ago are moderately profit-taking, suggesting cautious participation. The Net Realized Profit/Loss (NRPL) during this surge is lower than previous market tops, indicating weaker profit-taking momentum. A low NRPL may signal a healthy market but raises concerns about the rally's sustainability. Short-term profit-taking by new whales could lead to a price correction to the $100,000-$105,000 support zone. In the mid-term, inactivity from old whales and low NRPL levels could support a bullish continuation after consolidation. Many new investors hold unrealized gains and are not panic selling. BTC trades at $111,500, up 4.2% in the past 24 hours.
