Bitcoin Data is in: How Much Profit and How Much Loss for Whales, Miners and Binance Traders?

As Bitcoin (BTC) approaches the $60,000 level, Ki Young Ju, CEO of cryptocurrency analytics firm CryptoQuant, shared his views on the cost-based levels at which various types of investors are purchasing Bitcoin.

When Ju first released this data, Bitcoin was trading at $57,000. Now, with Bitcoin at $60,000, the average profitability for these investor groups has changed:

• New Custody Wallets/ETFs: Bought at $62k, currently down -3%.
• Binance Investors: They entered at $55,000 and are currently +9% profitable.
• Mining Companies: Bought BTC at $43k, currently seeing +40% gains.
• Old Whales: Bought at $27k and made a significant +122% profit.

Meanwhile, broader economic conditions continue to weigh on the market. Last week, the Federal Reserve was widely expected to cut its benchmark interest rate for the first time since 2020 after signs that inflation was slowing toward its 2% target. Investors initially expected a 25 basis point cut, but expectations have shifted. The likelihood of a larger 50 basis point cut rose from 28% to 46% in just one day, according to CME Group data, with reports from the Wall Street Journal and Financial Times suggesting that Fed officials were split on the best course of action.

*This is not investment advice.