Bitcoin Whales Add $700M As Seller Exhaustion Signal Returns
Bitcoin’s rebound is being supported by on-chain signals, but not yet confirmed as a durable bottom. Large holders reportedly withdrew more than 11,000 BTC from exchanges, reducing potential immediate sell pressure. Traders are also watching seller-exhaustion metrics from platforms like Glassnode and Santiment, which suggest downside pressure may be cooling. These signals are constructive because they can indicate panic selling is fading and supply is leaving exchanges, but they are not definitive bullish proof. Withdrawals can reflect custody moves or cold storage rather than conviction buying. Stronger confirmation would come if Bitcoin holds higher lows, ETF flows stabilize, and exchange balances keep falling. The main risk is that price fails to hold the rebound zone, in which case the whale withdrawals may prove incidental rather than a true market low.
