Onchain analytics platform CryptoQuant reveals that recently entered whale investors hold unrealized gains exceeding $9 billion, a historical record since tracking began in 2016. These short-term holders, whose average cost basis stands around $69,000, saw their profits drop by 17% when BTC price declined by nearly 2%. CryptoQuant warns that any further decline in Bitcoin price could trigger massive sell-offs from these speculative investors, traditionally the quickest to take profits. Binance BTC reserves reached 691,658 units on September 2, their highest level since November 2024.
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