CryptoQuant analyst Axel Adler Jr. said short-term Bitcoin whales’ unrealized profit fell 53% to $4.6 billion on Oct. 20, while 10,605 BTC moved into centralized exchanges, according to a BlockBeats report published Oct. 21.
Profit measure and exchange flows
The reported unrealized profit dropped from a record $9.8 billion on Sept. 22 to $4.6 billion, although the cohort remained profitable. On the same day, whale transfers to centralized exchanges reached 10,605 BTC, the highest daily level since Oct. 8 and about 2.8 times the 30-day average of 3,815 BTC.
What the data does not establish
The report cautions that a decline in unrealized profit does not prove that holdings fell, and transfers to exchanges do not prove that the coins were sold. Adler said higher inflows indicate greater potential selling risk. The figures and interpretation are attributed to the analyst and are not a confirmed record of completed sales.