Analyst: Bitcoin short-term whale unrealized profits drop 53%, over 10,000 BTC transferred to CEX in a single day

October 21 - CryptoQuant analyst Axel Adler Jr. stated that the unrealized profit of Bitcoin short-term whales dropped from a record $9.8 billion on September 22 to $4.6 billion on October 20, a decrease of 53%, but still in a profitable state.

On the same day, whales transferred 10,605 BTC to CEX, the highest single-day level since October 8, about 2.8 times the daily average of 3,815 over the past 30 days. A decline in unrealized profit does not mean a reduction in holdings, and transfers to exchanges do not mean they have been sold, but analysis points out that increased inflows indicate a rising potential selling risk.