Bitcoin Whale Flow Plummets 50%—Here’s Why BTC Isn’t Going Anywhere

Bitcoin’s whale activity just got gutted—but don’t write the obituary yet.

### The Whale Exodus: What’s Really Happening?

Big players are pulling back, slashing BTC’s whale transactions by half. Panic? Maybe for weak hands. But Bitcoin’s survived worse.

### Two Reasons BTC Won’t Roll Over

1.
Institutional armor
: Wall Street’s still stacking sats—ETF inflows haven’t stalled. When BlackRock’s in, corrections are just buying opportunities.

2.
The Halving Halo Effect
: Supply shock meets sticky demand. Basic economics (which most crypto traders failed freshman year).

Meanwhile, traditional finance keeps printing money like it’s Monopoly night at the Fed. Bitcoin’s scarcity play looks better by the minute.

$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.

Source: IntoTheBlock

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.

Source: CryptoQuant

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.

Source: CryptoQuant

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.

Source: CryptoQuant

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.

Source: CoinGlass

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.