Arab Chain
Bitcoin Whales Between Unrealized Losses and Long-Term Support
Data indicates that the average cost of holdings for new whales (those with less than 155 days of holding) is around $99,039, while Bitcoin is trading at approximately $90,000. This gap means that this group is currently experiencing unrealized losses, which often creates psychological pressure and may lead some holders to sell on any price rebound, thereby increasing the likelihood of short-term volatility. In contrast, Binance user deposit addresses show an average holding cost of approximately $52,691, which is significantly lower than the current price. This indicates that a large segment of traders remains in comfortable profit, reducing the likelihood of forced selling, while simultaneously opening the door for gradual profit-taking at higher price levels. As for miner whales—those holding more than 1,000 BTC—their average holding cost is around $58,681. The fact that the price remains well above this level suggests that miners are operating within a strong profitability range, which reduces selling pressure driven by the need to cover operational costs. This dynamic acts as a supportive factor for overall market stability. Most telling is the position of long-term holder whales, whose average cost basis is approximately $39,681. This substantial gap between their cost basis and the current price reflects a high level of confidence within this group and confirms that they are not under selling pressure. Instead, they often represent the market’s structural foundation.