New Bitcoin Whales Sitting On 185% Higher Cost Basis Than HODLer Whales, Data Shows

On-chain data shows that Bitcoin whales who have held their coins for less than 155 days have a cost basis of around $91,900. This is significantly higher than the cost basis of long-term holder whales, which is around $32,200. The difference between the two groups is around 185%, indicating growing confidence and FOMO among investors. This is in contrast to the 2022 bear market, where the difference between the two groups fell to just 65%. The Realized Price indicator shows that short-term holder whales are carrying a net unrealized profit, while long-term holder whales are carrying a much larger profit. The current trend is driving investors to buy at even higher prices, which is in sharp contrast to the 2022 bear market. The difference between the cost basis of the two groups peaked at 437% in the 2021 bull market. It remains to be seen whether demand from new whales will continue to drive up the spread between the cohorts further. Bitcoin has recently reclaimed the $103,000 level, with the latest continuation of the recovery rally. The data suggests that there is growing confidence and FOMO among investors, driving them to buy at even higher prices.