Analyst: Short-term whales' unrealized profits decreased by 53% in one month, with 10,600 BTC transferred to exchanges in a single day

CryptoQuant analyst Axel Adler Jr. stated that the unrealized profits of large short-term holders have decreased from 9.8 billion dollars on September 22 to about 4.6 billion dollars on October 20, a reduction of approximately 5.1 billion dollars within a month, representing a decline of 53%.

This does not mean that whales have sold off more than half of their holdings, but rather that their current unrealized gains from holding BTC have significantly narrowed.