Bitcoin has performed poorly in the current bull cycle.
Whales have made the lowest historical profit if the bull cycle ends now.
BTC whales are waiting for liquidity injection from retail investors.
CryptoQuant CEO Ki Young Ju highlighted Bitcoin’s relatively subdued performance in the current bull cycle, assuming it ends now. In a recent post, the prominent crypto analyst noted that Bitcoin whales would see historically low profits if the 2024 bull run concludes soon.
According to Ju, Bitcoin whales have sold fewer tokens this season compared to previous bull cycles. He explained that newer whales are holding onto their crypto assets, potentially waiting for retail investors to inject more liquidity into the market.
Supporting Ju’s argument, Ali Martinez, a top crypto analyst on X, observed that crypto whales are employing a new strategy to make their large crypto holdings less visible. According to Martinez, the whales are distributing their Bitcoin across many addresses, breaking them into smaller amounts. The analyst noted that only 1,975 addresses currently hold between 1,000 and 10,000 BTC.
Meanwhile, Ju noted that the recent crypto market volati…
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