This stability is further highlighted by consistent outflows from whales, which have allowed Bitcoin to maintain its value above $100,000, defying typical sell-off behavior during price spikes.

The market has experienced a significant rebound, with prices climbing above $109,000, largely driven by massive withdrawals from exchanges.

These withdrawals, particularly to private wallets, indicate a long-term perspective among investors focused on value preservation and reduced selling pressure.

In just the past week, over 6 million bitcoins have been permanently removed from circulation, tightening supply further.

Historically, Binance whales have sold during price peaks, but recent trends show a shift as significant withdrawals are occurring instead.

Over the last five years, a total of 3.77 million BTC, valued at nearly $219 billion, has been withdrawn, reflecting a strong HODL strategy among investors.

On-chain expert Darkfost remarked that the steady withdrawals from Binance are surprising and indicative of a maturing market landscape.

Recent analysis shows that while large inflows of Bitcoin occurred during price peaks in early 2024, current inflows have decreased to about $3 billion, suggesting that whales are holding onto their investments for future profit opportunities.

These dynamics signal a potential bullish phase for Bitcoin, prompting investors to closely monitor market developments.

The ongoing withdrawals by large Bitcoin holders, or whales, from exchanges like Binance reflect a positive sentiment towards Bitcoin.

This continued outflow leads to limited supply and rising demand, which could support further price increases.

Market analysts are optimistic, predicting that Bitcoin could rise to $230,000, especially if it successfully crosses a central moving average indicator again.

Bitcoin's price has shown remarkable resilience, remaining above $109,000 despite bearish market pressures and a recent rebound past $110,000.