Analyst: New Whales Realize Record $1.2 Billion Profit as Bitcoin Returns to Cost Basis

According to CryptoQuant analyst MorenoDV_, after Bitcoin rebounded above the cost basis of new whales at approximately $70,000, realized profits for new whales hit a record $1.2 billion. If Bitcoin can sustain above the new whale cost basis of around $70,000 while realized profits return to normal, it would indicate that new demand is effectively absorbing market selling pressure.