Bitcoin OG Traders’ Unrealized Profits Nearly Triple 2021 Peak, Analysis Claims

According to analysis shared by CryptoQuant, unrealized profits of Bitcoin OG traders have surged to nearly triple the 2021 peak, while exit liquidity is claimed to have shifted from exchange traders to ETFs and DATs; however, this thesis requires independent verification.

CryptoQuant, citing a post by analyst Ki Young Ju, reported that OG traders—who have been in the market since Bitcoin’s early days—are experiencing one of their most profitable periods ever in this cycle. The post claimed that, unlike previous cycles, traders on cryptocurrency exchanges are no longer serving as exit liquidity for veteran investors.

The central claim of the analysis is that exit liquidity has shifted from exchange traders to ETFs and DATs. Exit liquidity refers to the buying demand that absorbs the selling pressure from early-stage investors. According to the evaluation shared by CryptoQuant, this structural demand has pushed Binance traders’ unrealized profits to nearly triple their 2021 peak. Thus, it is argued that the unrealized profits of Bitcoin OG traders have also risen on a similar scale compared to the previous peak.

Bitcoin Traders’ Unrealized Profits Surpass 2021 Peak

However, the dataset, calculation method, or how “OG traders” and Binance traders are defined were not disclosed in the source post. It was also not shared which metric was used to determine the share of ETFs and DATs in exit liquidity. Therefore, while the 2021 comparison is noteworthy, it cannot be considered a directly verified result.

The presented outlook serves as an analytical thesis regarding a potential shift in market structure. Without independent verification of the data, it does not seem possible to make a definitive price prediction or investment decision based on this claim. The post does not include any price targets or investment advice.