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Yesterday, Bitcoin (BTC) made a new summit of all time (ATH) of $ 111,880 on Binance Crypto Exchange after months of downward action during the first quarter of the year. The main cryptocurrency has rebounded More than 45% compared to its lower April 6 of around $ 76,000, and a recent whale behavior suggests that long -term holders see an additional potential.
Bitcoin Ath sees a mixed reaction of whales
According to a recent stretch of quick cryptocurrency by the contributor Crazzyblockk, new whales – portfolios that have had substantial BTC amounts for less than 30 days – have aggressively made profits during the current prices rally, contributing to increased sales pressure.
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On the other hand, the old whales – portfolios having significant BTC for more than six months – have shown minimum sale activity. This indicates long -term confidence in Bitcoin and expectations of continuous price appreciation.
Meanwhile, the active whales 7 to 30 days ago are committed to moderate profits, which suggests a cautious participation in the current rally. Although the limited activity of the old whales is a positive signal, some indicators indicate prudence concerning the sustainability of the rally.
For example, the net profit / net loss (NRPL) net during the current overvoltage is significantly lower than the levels observed during the summits of the previous market of 2024-2025. This indicates a lower overall profits among investors.
For the uninitiated, the NRPL measures the net profit or the losses that investors are locking when they sell their bitcoin, depending on the price difference between acquisition and sale. A high NRPL indicates a strong profit behavior, while a weak or negative NRPL suggests a reduction in enthusiasm or capitulation.
Is the market directed further?
Although a weak NRPL may imply that the market is not yet euphoric – a potentially healthy sign – it also raises concerns concerning the strength and sustainability of the current rally. These dynamics could influence the trajectory of BTC prices on different deadlines.
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In the short term, the continuation of taking advantage by new whales can trigger prices correction to neutralize overheated market conditions. A price drop could return BTC to the $ 100,000 support area to $ 105,000.
On the other hand, halfway through, the continuous inactivity of the old whales associated with low NRPL levels could support an increased continuation after a consolidation phase. Investors can consider withdrawals as opportunities to accumulate more BTC.
To conclude, although a short -term price correction remains possible, the mid -term perspectives of Bitcoin are largely optimistic – assuming that the old whales keep their position and the NRPL remains low.
This is aligned with recent chain analyzes projection That many new BTC investors are sitting on solid unrealized gains and do not show signs of panic sales, despite the Bitcoin trade near Aths. At the time of the press, BTC is negotiated at $ 111,500, up 4.2% in the last 24 hours.
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