#BitcoinStrategicReserveAct The new Bitcoin Whale now holds the majority of BTC capital | Weekly Whale Tracking.

Short-term "new whales" now hold 52.4% of Bitcoin whale market value, surpassing long-term holders for the first time.
The current trading price of BTC is approximately $96,800, partly due to new funds entering the market at high prices.
New Bitcoin whales hold assets exceeding those of long-term investors.
The realized market cap is calculated based on the price of each Bitcoin at the time it was last moved. Addresses that have been active in the past 155 days are considered new Whales.
At the same time, those who are inactive will no longer be regarded as old Whales.
The average cost basis of the new Whale is $91,922, while the average cost basis of the old Whale is $31,765. This change marks a historic shift in capital allocation among large holders.
From 2015 to the end of 2019, new Bitcoin whales accounted for less than 5% of the market value realized by whales, as the price rose from 200 dollars to 10,000 dollars.
During the bull market from 2020 to early 2021, their share rose to 25% due to retail and institutional investors entering the market.
During the bear market of 2021–2022, the participation of new Whales dropped to below 10%. The recovery in 2023 and early 2024 brought their share back up to around 20%.
By mid-2024, the price of Bitcoin will rise from $30,000 to $100,000. The chart shows that the share of new Whales has sharply increased from about 20% to 52.4%.
Meanwhile, the market value held by old Bitcoin Whales now accounts for only 47.6%.
What does this mean for the price dynamics of Bitcoin?
Today's data indicates that the majority of Bitcoin's "Whale" holders are those who entered the market recently at higher prices. Over half of the Whale-level capital has been transferred in the coins over the past five months.
Overall, this is the main driving force of the BTC market. The new Whale purchase amount of $90,000 pushed BTC up to $97,000. Their demand has driven most of the recent rebound.
In addition, the average cost of the new Whales is about $92,000, so they have only a slight unrealized #Bitwise NEAR ETF 申请 #OBOL 上线福利 profit. Falling below their cost could trigger a rapid sell-off and increase downward pressure. Meanwhile, the average purchase price for long-term Whales is $31,000. They have no reason to sell now, thus limiting the supply from this group. Simply put, the current strength of Bitcoin is based on these new high-cost buyers. If they hold, the upward trend may continue. If they start selling at cost, more severe volatility is expected.