1 week ago
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Key Takeaways
- Small whales have returned to unrealized profit.
- Short-term holder market cap broke its 2024 low.
- Exchange netflow reached positive 5,044 BTC.
- Open interest rose as funding turned negative.
- Fresh spot demand remains the missing confirmation.
The Rebound Repaired Cost Basis, Not Capital Formation
The most constructive signal comes from wallets holding between 100 and 1,000 BTC. According to a CryptoQuant analysis of whale unrealized profits, this cohort returned to a profitable position following Bitcoin’s recent rebound.
Crossing into profit means the market price has moved above the aggregate cost basis reflected by the indicator. Holders in that group are no longer sitting on the same unrealized losses, reducing one source of pressure that could force or encourage them to sell into weakness.
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