Looks like while the teachers on Twitter are all shouting about $50K or even $30K bearish targets, in reality, the whales are being super honest with their actions—starting to go crazy buying the dip at $60K. There are just too many of them. Currently, short-term whale holders (addresses holding over 1,000 $BTC for less than 155 days) have reached an all-time high profit of $9 billion. But their average cost is as high as $70K. The price has only gone up by $10K per coin, and they’ve already made this much. This shows that the funds these whales are using to buy the dip are absolutely massive. However, such concentrated profits will likely create selling pressure during the next rally. We’ll need to shake these guys out a bit for the price to rise more healthily.