Whales have completed their Bitcoin sell-off: BTC is poised for a strong rebound
Large Bitcoin (BTC) holders have completely completed the panic selling phase and have shifted to active accumulation. The reversal in supply dynamics from whales triggered a sharp price rebound to $65,704.89. Key takeaway: the transfer of coins from less resilient market participants to institutional players is finally complete.
The main signal is the reversal in supply from large holders. On June 14, the twelve-day decline in the total supply of whales officially turned into growth. This coincided with a sharp reduction in the inflow of old coins to exchanges and a strong price recovery.
How the sell-off and absorption unfolded
The first phase occurred on June 1–4. Old coins flooded exchanges, and the Inflow CDD (Coin Days Destroyed, a measure of activity of long-dormant coins) indicator surged to 2.16 million. This crashed the price from $71,300 to $63,800.
The second phase was absorption on June 5–10. At the bottom of $61,400, whales stepped in: over 11,400 BTC (about $700 million) moved from exchanges to cold wallets, reflected in a negative netflow. At the very low, the Exchange Whale Ratio, which measures the share of large transactions in incoming exchange flow, rose to 62.3% — whales were "absorbing" panic selling.
The third phase was the rebound and reversal on June 11–14. As selling dried up, a sharp supply deficit emerged in the market. The Inflow CDD indicator dropped from 2.16 million to nearly zero — just 33,000 — meaning a complete halt in selling by long-term large holders.
Why a solid bottom formed
The main conclusion is simple: the capital flow from less resilient holders to large holders is complete. Whales have cemented the $60,000–$61,500 range as a strong support level for the BTC price.
Thus, on June 14, the total supply of whales — wallets with a balance of 100 BTC or more — officially turned upward, triggering a strong Bitcoin price rebound to $65,700. I interpret this reversal as a change in the very structure of the market, not just a short-term technical bounce.
Given the depletion of exchange reserves, the path of least resistance for Bitcoin is now upward. The logic is that available supply for sale on exchanges is decreasing, while coins accumulated by large holders are moving into long-term storage.
My expert assessment: The picture fully confirms the classic accumulation cycle. Whales have not just "bought the bottom" — they are deliberately consolidating supply, preparing for a new rally. If the current trend continues, we could see a breakout above the $70,000 level in the coming weeks.