On-chain analyst and CryptoQuant contributor IT Tech shared insights on the profits of various market participants, including whales and traders on Binance, emphasizing that “new whales” are actively purchasing Bitcoin while “old whales” are holding their positions.

According to his observations, “new whales,” who have held Bitcoin for less than 155 days, purchased coins at an average price of $62,038. Their unrealized loss currently stands at 3.28%, with Bitcoin priced at $60,000.

“Despite the decline, ‘new whales’ are still accumulating [coins], showing long-term confidence in Bitcoin,” noted IT Tech.

On the other hand, “old whales” are in substantial profit—115.54%. Their average purchase price is $27,843.

“Despite the significant gains, ‘old whales’ are holding, waiting for further price growth,” the expert commented.

Miners purchased Bitcoin at an average price of $43,179, resulting in an unrealized financial return of 38.91%. IT Tech observed that these market participants show no inclination toward massive sell-offs but instead appear to be either accumulating or gradually reducing their positions.

The average figure for traders on Binance is 8.17%, with an average purchase price of $55,471.

“Traders are more inclined to quick profits, contributing to short-term volatility,” the analyst added.

Based on these observations, IT Tech concluded that the current market situation suggests stability and potential for further price growth of Bitcoin.

Earlier, Quinten François, co-founder of WeRate, predicted that the bull market would “restart” by the beginning of October.