Whales have completed their Bitcoin accumulation: panic selling is a thing of the past
The Bitcoin market has experienced a powerful turning point. After a two-week period of panic selling, large holders — whales — not only stopped the sell-off but began actively accumulating coins at the bottom. The result was immediate: the BTC price rebounded to $65,704.89, and analytical data confirms a shift in supply structure.
The key signal is a reversal in the aggregate supply of whales. On June 14, a twelve-day decline in this indicator gave way to confident growth. This coincided with a sharp reduction in the inflow of old coins to exchanges and a strong price recovery. Essentially, we witnessed a classic process of capital redistribution from weak hands to strong ones.
How the sell-off and absorption unfolded
The first phase occurred on June 1–4. Old coins flooded exchanges, with the Inflow CDD indicator spiking to 2.16 million. This crashed the price from $71,300 to $63,800. However, on June 5–10, whales entered the scene: at the low of $61,400, over 11,400 BTC (approximately $700 million) were withdrawn from exchanges to cold wallets. The Exchange Whale Ratio surged to 62.3% — large players were literally absorbing panic selling.
The third phase was the rebound and reversal on June 11–14. As selling dried up, an acute supply shortage formed in the market. Inflow CDD collapsed from 2.16 million to nearly zero — just 33,000. This indicates a complete halt in selling by long-term holders.
Why a solid bottom formed
The main conclusion is simple: the flow of capital 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. On June 14, the aggregate supply of whales — wallets with a balance of 100 BTC or more — officially reversed upward, triggering a strong rebound.
Given the depletion of exchange reserves, the path of least resistance for Bitcoin is now upward. The logic is that the available supply for sale on exchanges is decreasing, while coins accumulated by large holders are moving into long-term storage.
My expert opinion: This scenario is not just a technical rebound but a fundamental shift in market structure. Whales have demonstrated confidence in BTC's long-term potential by buying coins from panickers. This creates prerequisites for a new upward trend, but it's worth remembering: the cryptocurrency market is unpredictable, and any reversal can be challenged by macroeconomic factors.