Bitcoin loses 50% whale flow! 2 reasons why BTC can still survive
Bitcoin whales vanished fast, but are they gone for good?
- Large BTC transactions over $100K dropped by 50% in June.
- Bitcoin accumulation remains strong despite mixed sentiment.
Bitcoin [BTC] has maintained a relatively bullish position, hovering around the $106,000 region after reclaiming $108,000 last week.
Yet, market activity pointed towards indicators that Bitcoin could slide lower in a short-term correction before resuming its upward trend. Here’s how that might play out!
$100K+ transactions halve in June
Data from IntoTheBlock, as shown by Ali Martinez, pointed to a steep drop in large BTC transactions.
In June, the number of transfers over $100,000 fell from 34,000 to 17,000—nearly a 50% drop. This dramatic decline suggests whales are either exiting or simply choosing to sit on their holdings instead of actively trading.
829% spike in Exchange Outflow mean…
Further analysis of the Exchange Outflow Mean confirmed increased selling pressure among this group. According to CryptoQuant, the outflow spiked by over 829%, reaching a value of 3.7.
This uptick signals aggressive BTC movement away from exchanges, possibly to cold wallets or converted into other assets.
If this trend persists, it points toward rising sell pressure or profit-taking rather than new bullish inflows.
Will the price decline be a major fall?
AMBCrypto analyzed additional metrics to determine whether the anticipated decline reflected a major downturn or a temporary correction.
The Puell Multiple, which identifies overbought or oversold market conditions, sat at 1.2 and is trending downward. This suggests further downside is possible.
However, the metric also presents a potential rally opportunity.
If the Puell Multiple approaches 0.4, it would indicate that BTC is nearing oversold territory, historically a zone that has triggered major rebounds.
Similarly, the Network Value to Transactions (NVT) ratio on CryptoQuant supports this sentiment. At the time of analysis, it was at 31.4—relatively stable.
A stable reading suggested a balance between bulls and bears, hinting that price could regain equilibrium even if volatility continues.
This is important because it implies that any major dip could simply mark a corrective phase, followed by a strong recovery.
$4.68B in Bitcoin accumulated despite market slowdown
Despite declining whale activity and increasing outflows, accumulation in the market has surged.
CoinGlass Spot Exchange Netflow data showed a total of $4.68 billion worth of Bitcoin accumulated in recent weeks.
The highest accumulation occurred between June 9 and 16, when billions in BTC were moved off exchanges into private wallets—likely for long-term holding.
This buy-and-hold strategy may help BTC weather potential downside moves, especially with July’s accumulation trend appearing even stronger.
