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Bitcoin is struggling to reclaim $80,000 as short-term whales sit on record unrealized profits.
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Short-term whale paper gains reached an all-time high of $9.07 billion before easing to $7.51 billion.
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Bitcoin holders with coins more than five years old have doubled their on-chain activity since May.
Bitcoin is struggling to reclaim $80,000 as record paper profits among short-term whales raise the risk of fresh selling pressure.
At the same time, US President Donald Trump, who has repeatedly styled himself as the “crypto president”, faces renewed calls from political critics to invoke the 25th Amendment following an extraordinary burst of AI-generated Truth Social posts.
The two developments are not directly connected, but their timing illustrates the unusual mix of market and political uncertainty surrounding Bitcoin as it consolidates near a closely watched psychological threshold.
Bitcoin Whales Sit on Record $9.07 Billion Profit
Bitcoin traded near $79,300 at the time of writing, down approximately 1.2% over 24 hours and still struggling to establish support above $80,000.
Unrealized profits held by short-term whale investors reached a record $9.07 billion on Sept. 4. The reading marked the highest level in data extending back to 2016.
The figure subsequently declined to $7.51 billion as Bitcoin retreated, but remained among the five largest readings ever recorded. All five occurred during the past two weeks, highlighting how quickly profitability increased among large investors who acquired their coins relatively recently.
Large unrealized gains do not guarantee that whales will sell. However, they represent potential supply that could enter the market if Bitcoin loses momentum.
“Unrealized profit at that scale is exposure,” IT Tech said, noting that short-term whales have historically moved quickly to secure gains when prices weaken.
The setup leaves Bitcoin caught between a relatively solid cost-basis floor and a growing incentive for profitable holders to cash out.
Bitcoin.com reported that immediate support had formed around $79,000, with the $76,300-$77,000 region becoming relevant if that level fails.
Long-Term Holders Increase Bitcoin Movements
Older Bitcoin investors are also becoming more active.
CryptoQuant said the 90-day moving average of spent transaction outputs from wallets holding Bitcoin for more than five years had risen to 1,500 BTC. That is roughly double the average recorded in May.
The increase suggests that the consolidation has prompted even long-term investors to move more coins on-chain. However, those transfers do not necessarily represent sales.
Source: finance.yahoo.com