Crypto Whales Swipe 40K Bitcoin Off Exchanges—Is This the Start of the Next Bull Run?
Bitcoin’s big players just made their move—over $2.4 billion worth of BTC vanished from exchanges this week. Are we seeing the early tremors of a supply shock?
Cold wallets are swallowing coins faster than a hedge fund manager at an open bar. With spot ETF inflows still strong and the halving dust settling, this could be the smart money betting on scarcity.
Or maybe they just don’t trust exchanges after watching FTX reruns. Either way, when this much BTC goes offline, markets tend to notice.
Bitcoin Faces A Defining Moment As Bulls Hold Short-Term Control
Bitcoin is now entering a critical phase where price action over the next few weeks could shape the market’s direction for months to come. Bulls are currently in short-term control, following a sharp surge that pushed BTC firmly above the $90K mark. However, despite this momentum, high risks of a reversal remain as global trade instability continues to dominate macroeconomic narratives.
Tensions between the US and China persist, with rising tariffs and fractured supply chains threatening global markets. While some analysts are optimistic, calling for Bitcoin to rally toward new all-time highs (ATH) in the coming weeks, others remain cautious, arguing that recent strength may be a temporary reaction rather than the beginning of a sustained breakout.
A key signal supporting the bullish view is growing investor accumulation. Top analyst Ali Martinez shared relevant data revealing that more than 40,000 BTC have been withdrawn from exchanges over the past week. This strong outflow trend suggests that investors are increasingly moving their BTC into cold storage, reducing available supply and reinforcing the foundation for a potential price surge.
As Bitcoin hovers at critical resistance levels, the coming days and weeks will be pivotal. A continued surge could confirm the start of a new bull phase, while failure to hold key support zones could lead to renewed volatility.
BTC Price Update: Bulls Hold Steady As Critical Levels Loom
Bitcoin is currently trading at $93,900, maintaining a strong position after an impressive multi-week rally. However, while bullish momentum persists, it appears that a clean push above the $95K–$96K resistance zone may take additional time. This range is a critical hurdle, and many analysts expect some consolidation before any decisive breakout occurs.
For now, bulls must focus on defending key support levels to keep the recovery structure intact. Holding above $88,700 — roughly aligned with the 200-day moving average — would be a major sign of strength. This level has become an important pivot point, helping to confirm whether the rally can sustain further upside pressure.
If Bitcoin fails to hold above $88,700, it could trigger a deeper correction, with the next significant support zone sitting around $84,000. A move down to this area would still fit within a broader bullish structure but would delay attempts at setting new all-time highs.
Overall, the $88,700 level remains the key battleground. Bulls must continue to defend it while preparing for a potential retest of the $95K mark in the coming sessions. Patience and stability are critical as volatility remains elevated across financial markets.
Featured image from Dall-E, chart from TradingView
