Whales Hoard Bitcoin: Is This Dip-Buy Trigger?

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The ledger glows softly, as if the lamplight knows a secret: the Bitcoin whales have increased their departures from the exchange, as though the harbor suddenly emptied and someone whispered of a long winter.

In a fresh missive on X, Glassnode’s lead analyst, CryptoVizArt, points to the latest drift in the Exchange Whales Outflow indicator.

This metric tracks, as the name suggests, the withdrawals of Bitcoin by those enormous, patient patrons from the central taverns of exchange. By their definition, a whale is anyone with more than a thousand tokens in reserve.

But the indicator does not merely tally the outflows; it compares them to the total stock of BTC still lounging on the exchanges.

When the figure climbs, the whales are lifting more coins from the exchange into private drawers of self-custody. It reads as a quiet pledge to hold, and the crowd nods, perhaps anticipating a bull, or perhaps simply enjoying the theatre.

Conversely, a dip signals the patrons easing their exits. If inflows accompany the movement, the mood remains neutral; if not, the air thickens with rumor of bearish weather.

And now, the chart sent by CryptoVizArt reveals the drift of the 30-day simple moving average of the Bitcoin Exchange Whales Outflow over the years, a diagram that pretends to be dramatic yet mostly sits in neutral corners.

From the graph, one sees a surge lately, the whales marching out in greater measure than the exchange’s own reserves.

At present the 30-day SMA stands at 3.2%, the loftiest since late 2024. The climb arrives as the spot price has wandered downward, like a man in a creaking chair finding himself in a new mood of gravity.

Perhaps the outflows announce a mood for dip-buying among those with pockets deep and patience longer. “This mirrors what we saw in the first half of 2022, when whales woke, gathered across several months in waves, and then the bull market began,” the analyst notes.

Back in the bear market of 2022, the bottom took its time to settle. Now we wait to see how long this accumulation must continue for the cryptocurrency to reach a cycle low.

BTC Price

Bitcoin had managed to push above $71,000, only to retreat; the price now sits near $68,000, as if the town woke up and decided it had other plans for the day.

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2026-02-13 05:12