Whales stopped the panic: BTC found the bottom and is preparing to storm new heights
The bitcoin market has experienced a classic shift in sentiment: a wave of panic selling from retail investors and weak hands has been fully absorbed by major players. On-chain data analysis indicates that the process of redistributing coins from less resilient holders to whales is complete. This has catalyzed a sharp rebound in the price of the leading cryptocurrency from local lows.
The key signal was a reversal in the supply dynamics of whales — wallets with a balance of 100 BTC or more. After 12 consecutive days of decline, their aggregate supply began to increase. This reversal coincided with a sharp reduction in the inflow of "old" coins to exchanges, signaling seller exhaustion.
Three-Phase Model: From Capitulation to Accumulation
The first phase (June 1–4) was characterized by a massive influx of long-dormant coins to exchanges. The Inflow CDD metric, which reflects the activity of funds that have not moved for a long time, surged to 2.16 million. This triggered a price drop from $71,300 to $63,800.
The second phase (June 5–10) was a period of aggressive accumulation. At the $61,400 level, whales entered the game: over 11,400 BTC (approximately $700 million) were withdrawn from exchanges to cold wallets. The share of large transactions in the incoming flow to exchanges (Exchange Whale Ratio) reached 62.3% — whales were literally "absorbing" panic selling.
The third phase (June 11–14) was marked by seller exhaustion and a trend reversal. Inflow CDD plummeted from 2.16 million to nearly zero (just 33,000), indicating a complete halt in selling by long-term holders. Once supply dried up, whales reversed their dynamics upward, triggering a rebound to $65,704.
Why the Bottom is Firmly Established
The main takeaway from this picture is that the capital transfer is complete. Whales have cemented the $60,000–$61,500 range as a solid support level. The reversal in their aggregate supply is not a short-term technical bounce, but a change in the very structure of the market.
Given the depletion of exchange reserves, the path of least resistance for bitcoin is now upward. Available supply for sale is shrinking, and coins accumulated by large holders are moving into long-term storage. This creates the conditions for a sustained upward movement.
Cryptalist Expert Opinion: This scenario is a perfect example of how market psychology works during bearish corrections. Whales are not just buying the panic; they are creating a structural supply deficit that will eventually push prices higher. For investors who missed the entry in the $61,000 zone, the current rebound could be the last "cheap" ticket before a new rally.