Bitcoin whales are notably behaving differently in the ongoing bull market by not taking profits as they usually would. This behavior suggests that they anticipate the bull market is far from over. According to CryptoQuant's founder, Ki Young Ju, these whales are setting a record for the least profit-taking in any cycle.
Analyzing these patterns, Crypto analyst Ali Martinez notes that Bitcoin whales are distributing their holdings across different addresses. This has led to a decreased number of addresses holding large amounts of Bitcoin. Nonetheless, the returns remain low even if these movements suggest sales.
Ki Young Ju argues that one should consider macro-level aggregated data, such as historical realized profit, to understand the broader market trends. With new whales accumulating Bitcoin, this is seen as preparation for the next leg of the ongoing bull run.
Predictions for the peak of this market cycle vary. Some analysts expect it might happen between mid-September and mid-October 2025, while CoinMarketCap suggests a cycle top could occur between mid-May and mid-June 2025. The current market cycle shows an acceleration compared to historical trends.
