CryptoQuant Observes Generational Shift Among Bitcoin Whales

Investments in Bitcoin by “new” whales have nearly doubled those of “old” major players, according to CryptoQuant CEO Ki Young Ju.

The new whales’ initial investment in #Bitcoin is almost twice the old whales’ cumulative total. pic.twitter.com/SU5Aiw1nJB

— Ki Young Ju (@ki_young_ju) April 23, 2024

The expert classified “whale” addresses as those not associated with CEX and miners, with a balance exceeding 1000 BTC. “New” whales are defined as those holding coins for less than 155 days, while “old” whales exceed this period.

Specialists separately examined the dynamics of the 7DMA ratio of the SOPR indicator concerning hodlers (holding period over 155 days) versus short-term investors (less than the specified period).

An elevated metric value indicates high profitability for the former relative to the latter, which may suggest potential price peak formations.

The current analysis advises caution in anticipation of possible corrections or increased volatility.

Back in April, CMCC Crest co-founder Willy Woo warned that if Bitcoin falls below $59,000, the market risks entering a bearish phase.

Earlier, JPMorgan specialists noted that digital gold is in an overbought state.