New Bitcoin whales just locked in over $1.2 billion in profits in only three days after BTC bounced back. According to CryptoQuant, this is the largest profit-taking event ever recorded for this group. The biggest day was August 20, when whales realized about $614 million—a new daily all-time high.

Record Cash-Out for New Whales

This wave of profit-taking lasted three days, with new large BTC holders collectively bagging more than $1.2 billion. CryptoQuant pointed out that this scale of profit-taking from this cohort is unprecedented. The $614 million peak on August 20 stands out as the highest single-day profit for new whales since tracking began.

Ethereum Holders Back in Profit

While Bitcoin whales were cashing out, Ethereum holders have swung back into profit. CryptoQuant notes that ETH metrics are recovering—without breaking down exact numbers or timeframes—but the trend shows sentiment shifting bullish again for the second-biggest crypto by market cap.

Market Demand Put to the Test

Large-scale profit-taking by major wallets often lines up with a "demand test," where the market checks if buyers are ready to absorb the extra supply. On-chain signals show that this latest wave was driven by new Bitcoin whales, with August 20 marking the main day of heavy selling.