Analyst: Short-term whale unrealized profit drops 53% over a 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 fallen from $9.8 billion on September 22 to approximately $4.6 billion on October 20, decreasing by about $5.1 billion over a month, a drop of 53%. This does not mean that whales sold more than half of their holdings, but rather that the unrealized gains on their current BTC positions have significantly narrowed.