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Key Notes
- Whales acquired over 20,000 BTC in just two days, according to Ali Martinez.
- Institutional demand holds strong as the Coinbase Premium Index remains positive for 20 straight days.
- On-chain data shows minimal profit-taking, with current selling pressure far below previous market tops.
Despite a modest 1.3% drop in price over the last 24 hours, Bitcoin’s BTC $105 113 24h volatility: 2.6% Market cap: $2.09 T Vol. 24h: $42.07 B bull market shows no signs of slowing down. Bitcoin is at $106,147.13, according to CoinMarketCap data, while trading volume surged 13%. This is a sign that investor interest remains undeterred.
Adding more reassurance, data from CryptoQuant shows that inflows to Binance from long-term and short-term holders have dropped sharply.
In previous downturns, such as, for example, in April during Trump tariff-driven panic and in August 2024, holders sent over 12,000 to 14,000 BTC to exchanges. Today, inflows are subdued at just 8,000 BTC, reflecting reduced fear and a lack of widespread exit activity.
Whales Accumulate as Bitcoin Leaves Exchanges
Prominent analyst Ali Martinez highlighted that whales have purchased over 20,000 BTC in the last 48 hours, and more than 30,000 BTC have been withdrawn from exchanges in the past month.
Whales have bought over 20,000 #Bitcoin $BTC in the last 48 hours! pic.twitter.com/cCmQOpUV8X
— Ali (@ali_charts) May 29, 2025
Such movements typically signal long-term holding intent, reducing sell-side pressure and reinforcing a supply squeeze narrative that has historically preceded sharp upward moves.
This pattern of accumulation aligns with a deeper on-chain trend: Bitcoin is gradually migrating from liquid exchange wallets into cold storage.
On-Chain Data Confirms the Bull Trend Isn’t Over
On CryptoQuant’s Quicktake platform, analyst Crypto Dan emphasized that although profit-taking is occurring, it’s far from excessive.
His analysis of the Net Realized Profit and Loss (NRPL) chart shows that recent profit realizations are modest when compared to the euphoric peaks of March and November 2024.
While this level of realized gains might cause short-term corrections, it doesn’t indicate the end of the bull market.
His sentiment echoes a broader consensus: the current cycle remains in a healthy growth phase, not a blow-off top scenario.
US Demand Powers the Next Move
Institutional demand is also flashing green. The Coinbase Premium Index, which measures the price difference between BTC on Coinbase versus other exchanges, has stayed positive for 20 consecutive days, the longest such streak of 2025.
This indicates sustained buying pressure from US-based institutional and retail investors, signaling strong market confidence. Further supporting this thesis is the May 26 outflow of 8,742 BTC from Coinbase, the third-largest single-day outflow in the past month.
According to analyst Burak Kesmeci, such outflows often precede ETF inflows or corporate purchase announcements, underscoring continued appetite from deep-pocketed entities.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
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