New Bitcoin whales are experiencing nearly $7 billion in unrealized losses, marking the largest such loss since October 2023, according to on-chain data. These investors accumulated Bitcoin at an average price of approximately $113,000, while the current trading price hovers around $110,000. CryptoQuant reports that these short-term whales now account for about 45% of Bitcoin's total whale realized cap, a significant increase from less than 20% earlier this year. Despite these losses, over 26,500 BTC have recently been transferred into whale accumulation wallets, as noted by market analyst Crypto Patel. Analyst Merlijn the Trader highlighted that structural factors, particularly Bitcoin ETF inflows, are influencing the market, with leverage decreasing sharply and open interest dropping by about 30%.
New Bitcoin Whales Face $7 Billion in Unrealized Losses
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