Recent on-chain data indicates that new Bitcoin investors experienced significant losses over the past week as the price of Bitcoin decreased.
New Bitcoin Whales Have Harvested Massive Losses Recently
According to CryptoQuant analyst Maartunn, large Bitcoin investors—those holding over 1,000 BTC (excluding miners and exchanges)—have recently been selling their holdings at a loss. Maartunn shared this observation in a recent post on X.
Whales, or large cryptocurrency investors, can be grouped into two categories based on how long they’ve held their coins: New Whales and Old Whales. New Whales, also called Short-Term Holders, are those who bought their coins within the last 155 days. Old Whales, or Long-Term Holders, are large investors who have held their coins for more than five months.
In my research, I’ve noticed a clear trend: the longer someone holds onto their cryptocurrency, the less likely they are to sell. This leads me to categorize investors as ‘Old Whales’ and ‘New Whales’. New Whales tend to hold coins for shorter periods, which I interpret as indicating a more hesitant or easily swayed investment strategy. Conversely, Old Whales, with their long-term holding patterns, seem to represent the more determined and steadfast investors in the market.
As the recent price drop occurred, these investors acted as expected, according to a Bitcoin profit and loss chart shared by Maartunn.
The graph shows whales have experienced substantial losses due to recent price declines. However, these losses are largely concentrated among newer whales, as highlighted in blue on the chart.
Over the past week, large investors known as STH Whales lost a significant $1.77 billion. This suggests they quickly sold off their investments in a panic as the market dropped. In contrast, long-term investors (LTH Whales) have limited their losses so far.
Now, it’s just a matter of watching how the price of Bitcoin changes and how large Bitcoin holders – often called ‘whales’ – respond. The recent price drop brought Bitcoin down to $59,000, which is fairly close to the ‘Realized Price’ – a measure of what the average investor originally paid for their Bitcoin.
As the analyst pointed out in another X post, BTC’s Realized Price is currently located at $53,630.
Bitcoin’s price hasn’t fallen below its Realized Price during this market cycle so far. However, if the price continues to drop, it might test that level. According to Maartunn, historically, any dip below the Realized Price has been a good opportunity for long-term investors to buy more Bitcoin over time.
BTC Price
At the time of writing, Bitcoin is trading around $63,300, down more than 13% over the past week.
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2026-06-08 22:53