Analysis: Bitcoin Whale Group has realized profits of over $1.2 billion in the past three days, as the market awaits selling pressure to rebalance

BlockBeats News, August 25th. CryptoQuant analyst Moreno stated that the Bitcoin "new whale" group has realized profits of over $1.2 billion in the past three days, marking the largest profit-taking event in the history of this group. On a single day on August 20th, the group realized a profit of approximately $614 million, setting a new record for the highest single-day value. At the same time, the Bitcoin price returned above the short-term whale breakeven price of around $68,900. On August 23rd, the BTC trading price approached $77,700, about 12.8% higher than the "new whale" total cost basis. In the months prior, some whales who had recently accumulated Bitcoin were holding long-term unrealized losses. This round of rebound completely changed their chip structure, allowing previously trapped funds to suddenly have the opportunity to exit at the breakeven point and lock in substantial profits.

The current trend thus constitutes a significant demand test. If BTC can continue to hold above the whale breakeven of around $70,000, while profit-taking gradually returns to normal levels, it indicates that new demand is effectively absorbing the distribution pressure, providing a foundation for the rebound to continue. On the other hand, if profit-taking continues at high levels and the price falls back below this cost basis, this round of rebound may be closer to a "breakeven exit rebound," with holders previously trapped once again turning into selling pressure. The market has now recovered profitability and needs to demonstrate whether it can absorb the pressure unleashed by this profit-taking.