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This article is also available in Spanish.
Yesterday, Bitcoin (BTC) created a fresh best (ATH) of $111,880 on the Binance Crypto Exchange, following months of downward behavior in the first quarter of the year. There are major cryptocurrencies rebound It’s over 45% from around $76,000 to 45% from the April 6 low, and recent whale behavior suggests long-term holders are seeing more potential for a rise.
Bitcoin Ass is seeing mixed reactions from whales
According to a recent encrypted quick take post by contributor CrazzyBlockk, the new whale – wallets holding a BTC amount of less than 30 days are actively profiting during the current price rallies, contributing to increased sales pressure.
Related readings
In contrast, an old whale – a wallet holding important BTC for over six months – shows Minimum sales Activities. This shows long-term trust in Bitcoin and hopes for a continuous price increase.
Meanwhile, whales operating 7-30 days ago have earned moderate profits, suggesting careful participation in ongoing gatherings. Although suppressed activity from older whales is a positive signal, some indicators point to attention on rally sustainability.
For example, net profit/loss (NRPL) during current prices spikes is significantly lower than the level observed at the market top in the past 2024-2025. This indicates a weaker overall profit momentum among investors.
For beginners, NRPL measures the net profit or loss that investors are locked in when selling Bitcoin based on the price difference between acquisition and sales. High NRPLs indicate strong profit-earning behavior, while low or negative NRPLs indicate a decrease in enthusiasm or surrender.
Is the market even better?
A low NRPL may imply that the market is not yet euphoric (a potentially healthy sign), but it also raises concerns about the strength and sustainability of the ongoing gathering. These dynamics can affect the price trajectory of BTC over various time frames.
Related readings
In the short term, continued profit gains from new whales can cause price corrections to neutralize the overheated market situation. Due to the price drop, BTC could potentially return to the $100,000-$105,000 support zone.
In contrast, during the medium period, ongoing inactivity of older whales with low NRPL levels may support bullish continuation after the integration phase. Investors may be seeing opportunities and pullbacks to accumulate more BTC.
In conclusion, short-term price adjustments remain possible, but Bitcoin’s medium-term outlook is primarily optimistic. Assume that the old whales will maintain their position and have a low NRPL.
This is consistent with recent on-chain analysis display Many new BTC investors are sitting on solid, unrealized profits despite approaching Bitcoin trading and showing no signs of panic sales. At the time of pressing, BTC will trade at $111,500, an increase of 4.2% over the past 24 hours.
Featured images from Unsplash, Cryptoquant and TradingView.com charts
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