Bitcoin recovery puts whales back in profit, Glassnode says

Large-scale investors, including sharks and whales, have moved back into profit as Bitcoin prices recover, according to Glassnode. Smaller investors remained in profit even at the June low, as their average purchase price was $48,000. Glassnode said this contrasted with the 2022 bear market, when Bitcoin traded below the average cost basis for every investor cohort and pushed the market broadly into losses from shrimp to whales.