Bitcoin Net Realized P/L (realized profits minus losses) Drops 97% to Near Zero — First Since June 2022

According to the post, whales (large Bitcoin holders) remain profitable, but rising selling pressure suggests a cautious near-term backdrop.

BTC

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Terms & Concepts
  • Net realized P/L: A metric showing aggregate realized profits minus realized losses, indicating whether investors are locking in gains or losses.
  • Whales: Large holders of a cryptocurrency whose trades can significantly influence market liquidity and price.
  • Selling pressure: An increase in sell orders that can weigh on price and indicate potential weakness.