Bitcoin panic selling is over: whales bought up the entire bottom and reversed the market
The Bitcoin market has experienced a powerful phase of capital redistribution. The massive sell-off by short-term and less confident holders has completely exhausted itself, and the initiative has now shifted to large players. Our data clearly shows: on June 14, the twelve-day decline in the total supply of whales (wallets holding 100 BTC or more) officially reversed to growth, triggering a sharp price rebound to the $65,704 level.
The process unfolded in three stages. The first stage, from June 1 to June 4, was characterized by an avalanche-like inflow of old coins onto exchanges. The Inflow CDD (Coin Days Destroyed) metric surged to 2.16 million, driving the price down from $71,300 to $63,800. Then, from June 5 to June 10, the absorption phase began: at the bottom around $61,400, whales stepped in. During this period, over 11,400 BTC (approximately $700 million) were withdrawn from exchanges to cold wallets. The Exchange Whale Ratio, which reflects the share of large transactions in the incoming flow, soared to 62.3% — whales were literally absorbing panic selling.
The third phase — the rebound and reversal — occurred from June 11 to June 14. As selling pressure waned, an acute supply shortage formed in the market. The Inflow CDD metric plummeted from 2.16 million to nearly zero (just 33,000), signaling a complete halt in selling by long-term large holders. This moment became the trigger for the price reversal.
Why This Bottom Is Solid
The key takeaway: the transfer of capital from weak hands to strong hands is complete. Whales have established the $60,000–$61,500 range as a solid support level. The total supply of large holders has officially turned upward, launching a strong rebound to $65,700. This is not a short-term technical bounce, but a shift 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 on exchanges is shrinking, and the coins accumulated by whales are moving into long-term storage. The market has entered an accumulation phase, and any new wave of demand could trigger much more aggressive growth.
Expert opinion: The scenario we are observing is classic for the end of a correction in a bull market. Whales deliberately allowed weak holders to "burn" their positions in order to collect liquidity at the best price. Now that supply on exchanges has dried up and large players have shifted to accumulation, the likelihood of a retest of the lows is extremely low. BTC is ready for a new surge above $70,000.