Cryptocurrency analytics firm CryptoQuant has released a new report revealing the growing influence of “new whales” in the Bitcoin market.
These large participants, who hold more than 1,000 BTC but have held their coins for less than 155 days, now account for 60% of the realized capital of large Bitcoin holders.
This shift points to the growing influence of new market participants who are more actively engaged in trading compared to long-term holders (LTHs), often referred to as “old whales.” Unlike their counterparts who typically adopt buy-and-hold strategies, new whales react more quickly to market changes, reflecting current trends and sentiments.
CryptoQuant’s data shows a significant increase in the presence of new whales, especially during Bitcoin’s bullish phases. The growth phases began when Bitcoin’s price reached $55,000, and since then, their share of realized capital among large investors has increased by 43%, currently accounting for the majority.
This increase signals a period of market optimism, as new whales typically exhibit increased activity during the accumulation, growth, and profit-taking phases. Conversely, their influence diminishes during periods of uncertainty or downtrend.
According to CryptoQuant, tracking the rate of new whales offers valuable insight into market sentiment, especially among large new entrants.
*This is not investment advice.
