Wintermute's $4.1M AAVE Withdrawal Signals Bullish Institutional Accumulation

Market maker Wintermute executed a significant withdrawal of 24,124 AAVE tokens worth approximately $4.1 million from Kraken exchange on November 24, a move interpreted as a bullish signal for the DeFi asset. This off-exchange transfer reduces immediate selling pressure and indicates potential long-term holding intent, aligning with AAVE's price rebound from its demand zone between $150 and $160.

At the time of the withdrawal, AAVE was trading near $169, with technical analysis highlighting a descending channel and key resistance at $179. A break above this level could open a path toward $232. The Spot Taker CVD showed sustained buyer dominance over 90 days, while the RSI climbed from 39, confirming improved momentum. Additionally, Binance's Long/Short Ratio surged to 1.56, with long accounts holding 60.95% of positions, signaling a sentiment shift and potential for short squeezes.

This withdrawal reinforces whale accumulation behavior and buyer control in both spot and derivatives markets, strengthening the case for a mid-trend reversal. Wintermute's strategic move, as a major liquidity provider, underscores institutional confidence in AAVE's prospects amid broader DeFi growth.