Whale Profits Soar: Bitcoin Short-Term Holder Unrealized Gains Hit Record $9B

New data from CryptoQuant shows that Bitcoin's short-term holder whales are sitting on record unrealized profits of over $9 billion.

This is the largest figure recorded since CryptoQuant began tracking whale profitability in 2016, with the current reading hitting a new multi-year high of $9.07 billion on September 4.

The short-term holder whales' aggregate unrealized profit fell by 17% the following day after a 2% daily drop in the BTC/USD price, as their breakeven point is closer to the current spot price than that of long-term holders.

CryptoQuant warns that further price downside may induce selling from these whales, who are historically the fastest to take profit when it's available.