Analyst: New "Whales" Book Record $1.2B Profit as Bitcoin Reclaims $70,000 Cost Basis

AI Market Summary

CryptoQuant notes "new whales" realized a record $1.2B profit after BTC moved above their ~$70,000 cost basis. The milestone highlights elevated distribution risk near a key on-chain reference level. If BTC sustains above this cost basis while realized profits normalize, it would suggest fresh demand is absorbing supply; failure to do so may keep short-term sell pressure elevated.

Impact level

● Medium

Affected assets

BTC/USDT+1.77%

AI Insight · BTC/USDTAI Insight

● Neutral

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CryptoQuant analyst MorenoDV_ said Bitcoin's move back above the roughly $70,000 cost basis for new whales has pushed their realized profits to a record $1.2 billion. He noted that if Bitcoin can hold above the new-whale cost basis near $70,000 and realized profits cool back toward typical levels, it would suggest fresh demand is absorbing selling pressure in the market.

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