• New whales have a base cost of $62,038, reflecting a 3.28% decline yet showing continued accumulation.

  • Old whales hold significant profits at $27,843, indicating strong confidence and minimal selling pressure.

  • Miners maintain a cautious stance while Binance traders contribute to short-term volatility without exerting downward pressure on prices.

In recent analysis, the base costs for different parts of BTC investors have revealed insights into market behavior and possible future trends. With Bitcoin's current price sailing around $60,000, this report examines how whales, miners, and traders react to the evolving market conditions.

Old Whales Hold as New Whales Display Long-Term Optimism

According to Crypto Quant, those who have accumulated Bitcoin within the last 155 days have a base cost of $62,038. Despite being down by 3.28%, these investors continue accumulating, reflecting their confidence in Bitcoin's long-term value. 

Source: Crypto Quant

In contrast, old whales, who have held their Bitcoin for more than 155 days, have a base cost of $27,843. With a substantial profit margin of 115.54%, these investors are in a strong position but show no signs of offloading their assets. 

Binance Traders Drive Volatility; Miners Stay Cautious

Bitcoin miners, who have a base cost of $43,179, are currently enjoying a 38.91% profit. Despite being in a profitable position, there has been no movement toward mass selling. This behavior indicates that miners may either be holding their Bitcoin in expectation of higher prices or are selling gradually to avoid market disruption. Dealers with a base cost of $55,471 in Binance are recording an 8.17% profit at current prices. Given their preference for more immediate profit, these traders are more likely to contribute to short-term volatility in the market. However, their current profit-taking actions are not causing downward pressure on BTC price, indicating a balanced market dynamic where traders are active but not dominant.

The post Bitcoin Base Cost Analysis: Comparing Whales, Miners, and Traders appeared first on Crypto News Land.