Bitcoin Close to ATH, Whales Hold Steady Positions
The price of Bitcoin (BTC) is approaching its all-time high, trading near $109,000, according to the latest data from CryptoQuant.
The whales have not yet cashed out despite the fast rise, and this is what is defining the market behavior currently.
Bitcoin – Near All-Time Highs but No Profit-Taking
“Whales show no intention of taking profits at this price level and are likely to wait for higher prices, where significant market overheating and a bubble form, before making their moves.” – By @DanCoinInvestor pic.twitter.com/W5PtrHo0Q5
— CryptoQuant.com (@cryptoquant_com) June 11, 2025
NRPL Indicator Reveals Profit-Taking Patterns
An enlarged chart posted on CryptoQuant also draws attention to the Net Realized Profit and Loss (NRPL) indicator that shows the profit or loss that investors realize on selling their assets.
This graph can show important trends observed over the past few years, such as considerable peaks in NRPL at the end of the year 2024 and the beginning of the year 2025 when a substantial number of investors took profits as the price skyrocketed.
However, recent trends show a different picture. Despite Bitcoin approaching $109,000, the NRPL line has been quite steady, highlighted by a green circle on the chart indicating that whales are not selling. This flat trend is in a stark contrast to previous profit-taking cycles and indicates a possibly bullish attitude of large holders.
Whale Strategy May Delay Market Correction
This interpretation is supported by a post by crypto analyst @DanCoinInvestor on X, who thinks that whales could be waiting for the prices to rise further, either out of optimism or as a calculated move in order not to cause a correction in the market.
This trend of holding by these big investors may push the price of BTC further up. Analysts, however, warn that this kind of concentration of unsold inventory brings about the risk of volatility since any mass sell off will actually lead to a dramatic movement in the market.
In the meantime, a prominent crypto trader, Meriljn The Trader, has forecast a significant price surge. Most recently, they pointed out a textbook example of a “bull flag” on Bitcoin charts: a technical pattern that is typically followed by sharp rallies.
Meriljn believes that the escape of this tendency is already starting, which means that Bitcoin can get a parabolic stage of price growth. In the event this technical prediction comes to pass, not only would Bitcoin be able to outperform its all-time highs but it may also skyrocket to a target of $144,000.
With the market keenly observing such developments, the actions of whales and the technical patterns adjusting may play a critical role in deciding whether Bitcoin will maintain its historic rally or plunge in another correction.
