#BTC市值创新高  New Bitcoin Whales Take Profit and Delay Breakout | Weekly Whale Tracker.

Bitcoin continues to hover around $110,000 despite reaching a new all-time high last week. According to on-chain data, there is a lack of further breakout momentum due to profit-taking by new whales.

Since April 20, Bitcoin’s price has risen by more than 30% from $84,000. However, the rally stalled after reaching a record high of $111,970 on May 22. Analysts say the price pause could be linked to selling pressure from recently created whale addresses.

Are New Whales Holding Back Bitcoin’s Price?

The majority of profit-taking over the past month has come from new whales who have taken advantage of the rally and locked in their gains. More specifically, these are investors who bought BTC and had an average cost basis of $91,922.

‘In a rally like this, it’s important to track whether profits are being taken by new or old whales. Surprisingly, the data shows that 82.5% of profit-taking since April 20th has come from new whales,’

The data also shows that new Bitcoin whales have made around $3.21 billion in profits. This is significantly larger than the $679 million held by old whale wallets.

This profit rotation appears to be forming resistance just below the $112,000 level.

This reflects how BTC shaped up last week before reaching a new all-time high. The blue bars represent the new whales that have dominated the profit-taking columns since late April.

The latest gray-shaded section highlights the increased activity of these new market participants.

In contrast, previous profit-taking, such as $811 million and $255 million in February and March, were attributed to old whales.

Meanwhile, the profit-taking trend continued this week.

This behavioral shift suggests that new whales are evaluating recent highs, likely to exit positions they entered during the Q1 decline. These exits are creating continued selling pressure, preventing further upside.

At the same time, older whales have largely remained dormant. Their reluctance to sell could signal confidence in Bitcoin’s long-term trajectory and limit near-term downside risk.

Until these new whale sell-offs subside, Bitcoin may struggle to decisively break above current levels. Market watchers will be closely monitoring whether this group continues to sell or pauses, which could allow the price to regain momentum.