Crypto
Bitcoin Whales' Record $9 Billion Paper Profit Puts Uptrend to Test
Bitcoin's short-term whales have accumulated a record-breaking $9.07 billion in unrealized profits, according to CryptoQuant data dating back to 2016.
This profit has not yet been converted to cash through selling but poses a potential risk if the Bitcoin price weakens.
The metric measures paper profits based on current prices for large investors who bought Bitcoin within the last few months and has reached its highest level in the series.
On September 5, this profit receded slightly to $7.51 billion after a minor pullback in the price, but remains one of the top five highest levels in the data series.