On-chain data shows the short-term holder Bitcoin whales have returned to a state of profit following the recovery surge in the asset’s price.

Bitcoin Is Back Above Realized Price Of New Whales

As explained by on-chain analytics firm CryptoQuant in a new post on X, the Bitcoin short-term holder whales are back in the green. The “short-term holders” (STHs) refer to the BTC investors who purchased their tokens in the past 155 days, while “whales” are the holders with more than 1,000 BTC in their balance.

The STH whales, therefore, would be the big-money traders who got into the market during the last five months. They are also known as “new whales.”

STHs are generally fickle-minded investors who tend to panic during periods of volatility. Likewise, they are also prone to showing a reaction when their break-even level gets retested, or their profit-loss status gets flipped.

The recent bearish action in the Bitcoin price meant that the STHs as a whole fell into losses. The recovery that the coin has seen in the last few days, however, has resulted in a return of profitability for the cohort.

Below is the chart shared by CryptoQuant, which shows the trend in the “Realized Price” (a measure of the average cost basis) of the STH whales over the last few years.

Looks like the price of the coin has recently broken back above this line | Source: CryptoQuant on X

As displayed in the graph, the Bitcoin STH whales currently have their Realized Price around $112,788. At present, the cryptocurrency’s

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Author: Keshav Verma