Ki Teenage Jufounder of the CryptoQuant analytics platform, revealed this Bitcoin whales they are now going out of character when it comes to profit-taking. These whales probably believe that the bull market is not over yet and that is why they did not secure the profits they did last year. previous bull runs.

Bitcoin whales have made smaller profits this market cycle than in the past

Ki Teenage Ju mentioned in a post on X that if the Bitcoin bull cycle ended here, it would mean that Bitcoin whales had just set the record for the smallest profit taking in all cycles in history. Crypto analyst Ali Martinez tried to counter Ki Teenage Ju’s argument by highlighting how whales distribute their BTC to different addresses, leading to a decline in the number of addresses holding between 1,000 and 10,000 BTC.

However, founder of CryptoQuant claimed that this is still the lowest return in all cycles, regardless of how much these whales sold through these different wallets. He also revealed that the whales they are currently selling are making little profit, suggesting that they are likely novel whales with feeble hands.

Meanwhile, Ki Teenage Ju noted that the type of transaction Martinez mentioned may not always be considered a sale. He noted that to get a broader picture, you need to look at more aggregated macro-level data, such as historical realized profit, rather than just transactions.

These whales are believed to be holding off on taking profits as the bull run appears to be far from over. CryptoQuant CEO also mentioned earlier that Bitcoin is still in the middle of a bull market based on market capitalization to realized capitalization ratio.

Instead of taking profits, these Bitcoin whales continue to accumulate more BTC ahead of the next stage of the bull market. CryptoQuant Lately revealed that there has been a acute raise in stock outflows, the largest since November 2022. Meanwhile, so has Ki Teenage Ju excellent that novel whales are accumulating at a rate the market has never seen before.

When can we expect this market cycle to peak?

Crypto analysts like Rekt Capital they predicted that Bitcoin market peak may occur in mid-September or mid-October 2025. However, in: latest reportCoinMarketCap offered a different opinion, predicting that the peak of the cycle could potentially occur between mid-May and mid-June 2025.

The platform noticed this Bitcoin is currently ahead of historical trends, especially since it has hit novel ones highest level ever (ATH) before the Halving event. CoinMarketCap pointed out that this market cycle is accelerating by about 100 days, which indicates that the next peak may come sooner than expected.

Featured image created with Dall.E, chart from Tradingview.com