Bitcoin Price Today Wobbles, but Bull Market Train Keeps Rolling

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Bitcoin‘s Rollercoaster: Hold On Tight! 🎢💰

In a world where the price of Bitcoin dances like a drunken ballerina, we find ourselves staring at a modest 1.3% drop over the last 24 hours. Yet, fear not, for the bull market train chugs along, puffing out clouds of optimism. Bitcoin stands tall at \$106,147.13, according to the ever-reliable CoinMarketCap, while trading volume has surged by a staggering 13%. Clearly, investor interest is as undeterred as a cat in a room full of rocking chairs.

To add a sprinkle of reassurance, data from CryptoQuant reveals that inflows to Binance from both long-term and short-term holders have plummeted like a lead balloon. In previous downturns—like that delightful April when Trump’s tariffs sent everyone into a tizzy, or the August 2024 panic—holders were sending over 12,000 to 14,000 BTC to exchanges. Today, however, we see a mere 8,000 BTC trickling in, a sign of reduced fear and a lack of widespread exit activity. It’s almost as if the market is saying, “Chill out, folks!”

Whales Accumulate as Bitcoin Leaves Exchanges

Prominent analyst Ali Martinez has pointed out that whales have been on a shopping spree, purchasing over 20,000 BTC in the last 48 hours. Meanwhile, more than 30,000 BTC have been withdrawn from exchanges in the past month. It seems these aquatic giants are hoarding their treasures like a dragon guarding its gold.

Whales have bought over 20,000 #Bitcoin $BTC in the last 48 hours!

— 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. It’s like watching a game of chess where the whales are three moves ahead, and we’re just trying to figure out how to move our pawns.

This pattern of accumulation aligns with a deeper on-chain trend: Bitcoin is gradually migrating from liquid exchange wallets into cold storage. It’s like Bitcoin is packing its bags for a long vacation, leaving the hustle and bustle of exchanges behind.

On-Chain Data Confirms the Bull Trend Isn’t Over

On CryptoQuant’s Quicktake platform, analyst Crypto Dan has emphasized that while 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 compared to the euphoric peaks of March and November 2024. It’s like a party where everyone’s having fun, but nobody’s getting too wild.

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. So, let’s keep the party going!

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. It’s like the market is giving us a thumbs up, saying, “Keep buying!”

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. It’s almost as if the big players are saying, “We’re in this for the long haul!”

According to analyst Burak Kesmeci, such outflows often precede ETF inflows or corporate purchase announcements, underscoring continued appetite from deep-pocketed entities. So, grab your popcorn, folks; the show is just getting started!

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2025-05-30 13:31