New Whales Dominate Bitcoin Realized Cap Over Long-term Holders
- New whales now control a larger share of Bitcoin‘s realized cap than long-term “OG” whales.
- Long-term holders maintain a lower cost basis of approximately $40,000.
- The new entrants have an average cost basis of around $98,000.
Recent on-chain data reveals that new institutional players have acquired a significant portion of Bitcoin’s realized cap, surpassing the holdings of long-term investors who entered the market at lower price levels. This shift highlights the growing influence of these newcomers in defining current market dynamics.
With new whales having an average entry point significantly higher than traditional holders, their participation is reshaping the landscape and influencing Bitcoin’s price action more prominently than before. (Source)
