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Ki Young Juthe founder of on-chain analytics platform CryptoQuant, revealed that Bitcoin whales are currently going out of character when it comes to taking profits. These whales probably believe that the bull-bull is far from over, which is why they haven’t seen as many gains as they have in recent years. previous bull runs.
Bitcoin Whales have made less profit in this market cycle than in the past
Ki Young Ju said in an Crypto analyst Ali Martinez tried to refute Ki Young Ju’s point by highlighting how these whales have spread their BTC across different addresses, leading to a drop in addresses of between 1,000 and 10,000 BTC.
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However, the founder of CryptoQuant claimed that this is still the lowest return rate of any cycle, regardless of how much these whales sold through those various wallets. He also revealed that the whales being sold now are doing so for little profit, indicating they are likely new whales with weak hands.
In the meantime, Ki Young Ju noted that the types of transactions Martinez was referring to cannot always be considered sales. He noted that you need to look at more aggregated, macro-level data, such as historically realized profits, rather than just transactions to get the bigger picture.
It is believed that these whales are still reluctant to take profits for the time being as the bull run appears to be far from over. The CEO of CryptoQuant also previously said that Bitcoin was still in the middle of a bull run, based on market cap to realized capitalization.
Instead of taking profits, these Bitcoin whales are still accumulating more BTC ahead of the next leg of the bull run. CryptoQuant recently revealed that there has been a strong increase in the outflow from stock exchanges, the largest since November 2022. In the meantime, Ki Young Ju has also noted that new whales are accumulating at a rate the market has never seen before.
When is this market cycle expected to peak?
Crypto analysts such as Rekt Capital have predicted that the Bitcoin market top could take place sometime in mid-September or mid-October 2025. recent reportCoinMarketCap offered a different view, predicting that the cycle top could be between mid-May and mid-June 2025.
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The platform has noticed this Bitcoin is currently ahead of historical trends, especially given that a new trend has been achieved all-time high (ATH) before the Halving event. CoinMarketCap pointed out that this market cycle is accelerating by about 100 days, suggesting the next peak could arrive sooner than expected.
Featured image created with Dall.E, chart from Tradingview.com