Massive $120 Million Crypto Exodus: Will it Ignite Bitcoin's Ascent to the $80,000 Milestone?

Bitcoin cooled from its recent push toward $76K but held above $74K for three straight days.

At press time, $BTC traded at $74,577, up 1.02% on the daily chart. That stability kept the short-term uptrend intact.

Are Bitcoin whales buying or selling right now?

As the price held firm, whale activity picked up.

CryptoQuant’s Spot Average Order Size data showed a rise in large orders over the past week. This reflected stronger whale participation.

Source: CryptoQuant

Large orders on Spot do not confirm direction alone. They can signal both accumulation and distribution.

Even so, CoinGlass data pointed to a transition phase. Some whales sold into strength, while others accumulated aggressively.

Buy-side interest clustered between $65K and $74K, forming a broad demand zone.

Source: CoinGlass

On-chain data supported this. Lookonchain reported three new wallets withdrew 1,600 $BTC, worth $120M, from exchanges. That move suggested fresh accumulation despite recent price gains.

However, selling pressure remained active above $75K.

Whales consistently sold into rallies near this level across Spot and Futures markets. That behavior turned $75K into strong resistance.

On top of that, Futures activity reinforced the trend. Matrixport closed a $112M $BTC long position, locking in over $8.7M profit.

That action highlighted a split market. Some whales accumulated, while others realized profits at higher levels.

Is Bitcoin stuck between buyers and sellers?

As of the press time, Bitcoin [$BTC] traded between a clear buy wall and sell wall.

Repeated attempts to break $75K have failed, triggering pullbacks. At the same time, whales defended the $70K–$72K range.

That balance kept $BTC in a narrow range, with neither side in full control.

Even so, short-term momentum remained positive. $BTC held above the 9-day and 21-day Moving Averages for four straight sessions.

At the same time, the Stochastic Momentum Index (SMI) formed a bullish crossover and rose to 67. Its signal line stayed near 66.

Source: TradingView

This showed buyers held a slight edge, though not enough to dominate. The next move depends on which side gains control.

If whales continue accumulating near $70K–$74K, $BTC may break $75K and target $78K–$80K.

However, if resistance holds, another pullback toward $70,500 remains likely.

Final Summary

Bitcoin held above $74K for three days, showing short-term stability after cooling from $76K

Fresh withdrawals of 1,600 $BTC from exchanges signal continued long-term accumulation by new wallets