Bitcoin whales book record profit of $1.2 billion in three days

New Bitcoin whales have realised a record profit of $1.2 billion in three days, with a peak of $614 million on 20 August. That is according to data from CryptoQuant. The Bitcoin price is around $80K, well above the cost basis of short-term whales of approximately $69.000. Analysts are now watching whether new demand can absorb the selling pressure from larger players.

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In short:

• New Bitcoin whales realised a record profit of $1.2 billion in three days, with a peak on 20 August.
• The current price of approximately $79.984 is well above the cost basis of short-term whales of around $69.000.
• Analysts state that if Bitcoin remains above that cost basis, new demand can absorb the distribution by large holders.

Record profit in three days

Charts from CryptoQuant show that the realised profits of new whales reached a historic peak of $614 million in a single day on 20 August. Measured over three days, total realised profit amounted to $1.2 billion, a level never before seen in the entire measurement history.

By comparison, old whales, which have held Bitcoin for much longer, remained on the sidelines during the same period or realised losses. The current profit peak is therefore entirely attributable to the newer, larger players in the market.

Cost basis determines the next signal

The cost basis of short-term whales stood at approximately $68.942 on 23 August, while the Bitcoin price was around $77.456 at that time. Now that Bitcoin has risen further to nearly $80.000, the price is clearly above that level. This is relevant because analysts see it as a condition for healthy market development.

Analyst MorenoDV states that if Bitcoin remains above the cost basis of approximately $70.000 while realised profits decline, that would be a sign that new demand is successfully absorbing the selling pressure from large holders. Whether that is indeed the case will become clear from how the market behaves in the coming days. Bitcoin already encountered resistance around $79.300 earlier, but is now trading well above that level.

Broader context: ETF inflows and leverage financing

The record profits of whales coincide with a period of heightened activity in the Bitcoin market. Bitcoin ETFs recently raised $1.92 billion in one week, pointing to sustained institutional interest. At the same time, leverage financing is declining despite the price increase, which is generally seen as a healthier market signal than a rally driven entirely by borrowed capital.

Whether the market can absorb the record distribution by new whales without the price falling back depends on whether there are enough new buyers to take up that supply. That is precisely the scenario analysts will be monitoring in the coming days.