Some heavy hitter just pulled 17,000 Bitcoin straight off the exchanges – and it looks like they plan to HODL on to them for safekeeping. 

Coinbase took the biggest hit, seeing a whopping 15,000 BTC vanish from their books.

This could spell good news for the world’s largest digital asset, which has so far been crab-walking below $100K for the past few weeks. 

Away They Go

This isn't your average withdrawal – to put the size of this reshuffle into context, we haven't seen a power move this big since way back in April 2024.

The forums and Telegram groups are buzzing about it because these whales aren't dumping – in fact, they seem to be doing the opposite.

They're stockpiling Bitcoin like preppers stacking canned goods, likely moving it to hardware wallets as they wait for BlackRock’s Larry Fink’s $700K BTC prediction to play out in due time.

Or, it might all have to do with the US dollar’s increasing weakness. 

The greenback is having a rougher year than a crypto trader who went all-in on FTX.

Between the Fed playing musical chairs with policy and global markets throwing tantrums over trade wars, the dollar is looking more and more shaky by the day.

And that says nothing about the massive amounts of printing that’s been going on these past few years and a deficit that’s now costing more in interest payments than the military – money printed does indeed still go brr. 

No wonder the smart money has been treating Bitcoin like the last helicopter out of a burning city. 

Market Shenanigans Afoot?

Bitcoin's playing crab lately, and doesn’t seem to want to get out of its comfort zone. 

The charts are tight, the stakes are high, and the only folks who can stomach that kind of drop are those who are in it for the long haul – those sorts of moves make your short-term traders lose sleep at night. 

Oh, and the last time volatility dropped this low, Bitcoin pulled an August 2023 and cratered by double-digit percentages. 

Meanwhile, futures traders are going absolutely wild, having a field day with what they see as massive volatility just over the horizon.

Some Chart Wizardry

That $92,000 support level better holds strong if you’re long because if we slip below that, it's a straight shot to the 200-day EMA, which puts us right around $80,000.

But with whales buying like this, down might not be on the menu.

The TA crowd is throwing around $131,000 predictions, saying that’s our next stop if we break to the upside, and the dollar's next move could flip this whole script for better or worse.

Recall that Bitcoin mining has created a ton of new jobs as of late, so the underlying tech itself may actually be what saves the Federal Reserve’s reports – a self-fulfilling prophecy at its finest. 

And keep in mind, when the big money is moving like this, they usually know something we don't.

Either Way, Drama Is Inevitable

We've seen 16% swings in the last 90 days alone, so the market has been as choppy as ever – then again, when is it not choppy in this industry? 

But in relative terms, it’s choppier than it normally is – the Choppiness Index (yup, it’s a thing) is screaming louder than meme coin traders in a Twitter Space.

The point is this: when whales move $700 million worth of Bitcoin, you don't need laser eyes to see what's coming – the last time the big boys played this hard, Bitcoin went vertical.

The challenge is that vertical lines go both ways, so which is it? Are we soaring to new heights, or cratering back down to Earth?