Bitcoin 'New Whale' Group Realizes Over $1.2 Billion in Profits in Three Days

Huoxing Finance reports that on August 25, CryptoQuant analyst Moreno stated that the group of Bitcoin "new whales" realized over $1.2 billion in profits over the past three days—the largest profit-taking event in the group’s history. On August 20 alone, they realized approximately $614 million in profits, the highest single-day value on record. Meanwhile, Bitcoin’s price has rebounded above the short-term whale realization price of around $68,900; on August 23, BTC traded near $77,700, roughly 12.8% above the total cost basis of the "new whales." For months prior, many large holders who accumulated Bitcoin recently had been underwater; this rally has fundamentally altered their position structure, suddenly giving previously trapped capital the opportunity to exit at breakeven and lock in substantial profits. This current price movement thus constitutes a critical test of demand. If BTC can sustainably hold above the ~$70,000 whale cost basis while profit-taking gradually returns to normal levels, it will indicate that new demand is effectively absorbing the distribution pressure, providing a foundation for the rally’s continuation. Conversely, if profit realization remains elevated and price falls back below this cost basis, this rally may be more accurately characterized as a "breakeven exit rally," with previously trapped holders once again becoming overhead selling pressure. The market has regained profitability—now it must prove it can absorb the selling pressure unleashed by this profit-taking.