““Binance traders and new whales are actively buying, while the old ones are walking,” noted an on-chain analyst and author of CryptoQuant under the nickname IT Tech. He also talked about the profits from investments in the first cryptocurrency among different categories of market participants. #Bitcoin Base Cost Analysis: Whales vs. New Investors “New whales and Binance traders are actively buying, while old whales continue to hold. This […]”, — write: businessua.com.ua
“Binance traders and new whales are actively buying, while the old ones are walking,” noted an on-chain analyst and author of CryptoQuant under the nickname IT Tech. He also talked about earnings from investments in the first cryptocurrency among different categories of market participants.
#Bitcoin Base Cost Analysis: Whales vs. New Investors
“New whales and Binance traders are actively buying, while old whales continue to hold. This mix could signal market stability and potential price growth.” – By @IT_Tech_PL
Link 👇https://t.co/thpqa7G5YK pic.twitter.com/Ro9RqghleU
— CryptoQuant.com (@cryptoquant_com) September 16, 2024
According to his observations, “new whales“, who hold bitcoins for less than 155 days, bought coins at an average price of $62,038. Their unrealized loss is 3.28% for digital gold at $60,000.
“Despite the decrease, the “new whales” are still accumulating [монети]demonstrating long-term confidence in Bitcoin,” noted IT Tech.
“Old whales»on the contrary, in a significant profit — 115.54%. The base purchase price for this category is $27,843.
“Despite the significant profits, the “old whales” walk around, expecting further price growth,” the expert commented.
Miners bought bitcoin at an average of $43,179, which means an unrealized financial result of 38.91%. According to IT Tech’s observations, among these market participants there is also no propensity for mass selling — rather a tendency to accumulate, or a scenario with a gradual reduction of the position.
Average indicator traders on Binance — 8.17% on the base purchase price of $55,471.
“Traders are more inclined to take quick profits, which contributes to short-term volatility,” the analyst commented.
Based on the observations, IT Tech concluded that the current situation indicates the stability of the market and the potential for the growth of the price of the first cryptocurrency.
Earlier, WeRate co-founder Quintin Francois suggested that the bull market would “restart” already in early October.
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