Bitcoin held above $67,000 on Monday as whale wallets flipped from selling to accumulation, ending a 12-day streak of declining supply. Data shows large holders absorbed selling pressure near $61,400 and, over the past week, more than 11,400 bitcoin left exchange wallets — the biggest outflow this month. The shift suggests traders are moving coins into cold storage rather than preparing to sell.
Whale U-Turn
After almost two weeks of steady distribution, the cohort of wallets that hold at least 1,000 BTC reversed course. Supply from these addresses had been dropping since early June, a trend that often signals profit-taking. But when bitcoin dipped toward $61,400 on June 10, the whales started buying. The supply trendline turned upward and hasn't looked back.
The timing matters. That June 10 dip was the deepest pullback since early May. Whales stepping in at that level provided a floor, preventing a steeper slide and giving retail traders confidence to hold.
Exchange Exodus
Over 11,400 bitcoin left exchange wallets in the past few days — a net outflow that reduces the readily available supply on trading platforms. When coins move off exchanges, it typically means holders intend to keep them for the longer term, not flip them for a quick gain. The outflow accelerated as bitcoin recovered from the $61,400 low back to the $67,000 range.
Exchange balances have been trending lower all year, but this week's outflow is the largest single-week move since April. It's a concrete sign that the selling pressure that built up during May is easing.
Dormant Coins Fall Quiet
Another data point supports the bullish read: the activity level of older bitcoin — coins that haven't moved in years — dropped sharply. When dormant coins start moving, it often means long-term holders are cashing out. The opposite is happening now. That spike in old-coin activity that worried traders in late May has subsided. The wallets that were stirring have gone still again.
That doesn't guarantee prices will keep climbing. But the combination of whale accumulation, exchange outflows, and quiet old coins creates a supply setup that favors the bulls — at least for now. The next test will be whether bitcoin can hold above $67,000 and push toward $70,000 without a fresh wave of overhead selling.
