Bitcoin’s largest holders are showing signs of supply absorption as Binance withdrawal data and on-chain balance trends point to increasing whale activity, according to analysts Darkfost and CryptoQuant contributor MorenoDV.
Binance’s ten largest Bitcoin withdrawals have climbed above 15,000 BTC, up from roughly 6,000–8,000 BTC during February’s decline and near 10,000 BTC at the summer bottom. The increase occurred across different market phases, including a price drop, a bottom, and the early recovery from late September onward. Average monthly Binance Bitcoin outflows also rose from 18,459 BTC in mid-August to nearly 30,000 BTC, indicating that large transactions are accounting for a growing share of exchange withdrawal activity while smaller retail-sized outflows represent less.
At the same time, CryptoQuant data highlighted that Bitcoin’s largest holders are increasing balances as BTC recovers. Rising balances alongside a stronger price structure are consistent with supply absorption: large holders appear willing to retain more BTC after prices have already recovered. This pattern may reduce the immediately available supply from monitored wallets, though analysts caution that wallet activity alone does not prove fresh investment demand.
Bitcoin traded near $81,000, below the 50-day moving average around $82,800 and the 200-day average near $82,400. Resistance sits between $82,400 and $82,800, with further levels at $84,000–$86,000 and stronger resistance near $87,000. On the downside, $80,000 remains a key psychological support, with potential support between $76,000 and $78,000. Bitcoin previously fell toward $60,000 in June, consolidated between about $60,000 and $65,000 through August 21, then broke above $75,000 around August 22.
Whale accumulation is not definitive proof of sustained gains, but if large-holder balances continue rising alongside demand, it could support Bitcoin’s broader recovery.
