
Briefing
The recent Bitcoin price correction has successfully cleared market stress, leading to a structural shift in investor behavior. Mid-sized holders, often referred to as “sharks” and “whales,” have transitioned from selling to aggressive accumulation, absorbing the supply that left exchanges. This pivot confirms the market is in a “reset phase” and has found a local bottom, proven by the massive 100,000 ∞ 120,000 BTC that exited exchanges between October and November 2025.

Context
After a sharp price drop, many investors are wondering if the correction is over or if a deeper bear market is beginning. Is the heavy selling pressure exhausted, or are major holders continuing to distribute their coins? On-chain data provides a clear answer by tracking where coins are moving and which investor groups are actively buying or selling.

Analysis
We track Exchange Netflow to see if more coins are moving onto exchanges (to sell) or off exchanges (to hold). The data shows a massive net outflow of 100,000 ∞ 120,000 BTC in recent weeks, one of the largest outflows in recent history. This means a significant amount of Bitcoin has moved into private, long-term storage, reducing the immediate sellable supply. Furthermore, the Holder Net Position Change for wallets holding 1 ∞ 10 BTC and 10 ∞ 100 BTC has flipped from negative (selling) to positive (buying).
This indicates that the mid-sized investor class is viewing the recent price drop as a major buying opportunity, absorbing the supply and confirming the easing of sell-side pressure. Momentum indicators moving into oversold territory support this narrative of market stress clearing.

Parameters
- Net Exchange Outflow ∞ 100,000 ∞ 120,000 BTC (The total amount of Bitcoin that left centralized exchanges in the recent correction).
- Accumulation Group ∞ 1 ∞ 10 BTC and 10 ∞ 100 BTC Wallets (The specific investor groups that flipped from distribution to accumulation).
- Stabilization Range ∞ $94,000 ∞ $100,000 (The price zone where momentum indicators moved to oversold conditions).

Outlook
This accumulation signal suggests the near-term future is one of consolidation and recovery. The structural buying from mid-sized holders creates a strong price floor, limiting downside risk. Readers should watch for a sustained reduction in ETF outflows (below $100 million daily) as a confirming signal that institutional selling pressure is fully exhausted, which would allow the on-chain accumulation to drive the price higher.

Verdict
The market has reset, and strong accumulation by mid-sized holders confirms a structural local price bottom.
