New Bitcoin whales are rewriting BTC’s market structure: Data
New Bitcoin whales now account for nearly 50% of the realized cap, signaling a structural market reset driven by higher-price capital entry.Summary
Onchain data suggests Bitcoin is undergoing a structural transition rather than a classic cycle peak, evidenced by new whales now controlling almost 50% of the realized cap, a significant increase from previous levels.
This shift indicates that new capital is entering the network at much higher price levels compared to past bull markets. Furthermore, short-term holder supply has surged to an all-time high of nearly 100,000 BTC over 30 days, reflecting aggressive accumulation by new entrants.
Analysis of recent selling pressure around $85,000 shows that while smaller traders sold, whale wallets absorbed the selling pressure, posting a positive cumulative volume delta, suggesting large capital is re-anchoring Bitcoin's aggregate cost basis.
(Source：Cointelegraph)