New Bitcoin whales are trapped underwater, but for how long?
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The gap between new and old Bitcoin whales continues to widen as BTC trades below $68,000. Will young whales continue to accumulate, or will older whales capitulate first?
Bitcoin’s (BTC) price continued to consolidate near $68,000 on Tuesday, but sustained weakness below this level may generate additional sell pressure from the newest cohort of large holders.
While the long-term whales remain in profit, short-term whales are sitting on sizeable unrealized losses. One analyst highlighted how this pressure may impact BTC’s price, as other indicators point to a continued downtrend.
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