Whale Investors Sitting on $9.07B Unrealized Profit Spark Concerns

Bitcoin's recent price drop has left some in the market concerned about potential selling pressure from short-term whale holders. These whales have been sitting on an unrealized gain of $9.07 billion, according to CryptoQuant data.

This group of investors has held their BTC for 155 days or less and are more likely to sell when prices move sharply, analysts warn.

While these large unrealized gains could quickly turn into selling pressure if Bitcoin falls further, strong buying is needed to absorb the extra supply. Spot demand will be crucial in determining the next move.

The recent inflows of around $1 billion into spot Bitcoin ETFs suggest that institutional buyers are still adding BTC, which could help absorb some of the selling pressure.