📊 Bitcoin Whale & Miner Profits Analysis:
🐋 Whale Groups:
CryptoQuant CEO Ki Young Ju discusses four key groups based on on-chain data:
1. Short-Term Holder (STH) Whales:
Large entities entering the market within the past 155 days.
2. Long-Term Holder (LTH) Whales:
Veteran large holders, holding for over 155 days.
3. Miners (100-1,000 BTC):
Small miners on the network.
4. Miner Whales (1,000 BTC+):
Mining companies.
📈 Unrealized Profit Ratio:
This indicator reflects the unrealized gains of these groups relative to their total market cap.
- LTH whales lead with a ratio of 2.23, suggesting over 223% profits.
- Small miners follow with 1.31, outperforming miner whales at 0.81.
- STH whales lag at 0.016, indicating only 1.6% profits, likely due to buying at higher prices through spot ETFs.
💡 Analysis:
The profits of LTH whales and small miners are significant, indicating rewards for patience and participation. However, STH whales have smaller profits due to buying at higher prices recently.
💰 Overall Outlook:
Despite profits across these groups, Ju suggests "not enough profit to end this cycle," implying continued market activity.
💱 BTC Price:
Bitcoin remains around $64,300, exhibiting sideways movement recently.
