Withdrawal of 580,000 bitcoins in just 6 days: Is the market approaching a big leap?
Trading platforms witnessed a sharp decline in bitcoin reserves between November 21 and 27, 2025, as their balance dropped from 2.4 million to 1.82 million bitcoins, a decrease of more than 580,000 bitcoins, marking one of the largest withdrawals this year.
This has raised expectations of the market entering a strong movement phase, especially with bitcoin trading near $91,700 after recovering from its previous dip below $81,000, despite remaining 27% away from its all-time high of $126,000.
Data indicates that large wallets transferred massive amounts from platforms to custody wallets, while the number of wallets holding 100 bitcoins or more increased, in contrast to the decline of smaller wallets.
Moreover, derivatives funding rates have dropped to levels not seen in two years, indicating a reduction in leveraged positions.
The funding rate has become negative at -0.0007, and the Coinbase premium has remained in the negative territory, despite recent improvement.
Analysts confirm that selling pressure has recently decreased.
The $89,000 – $91,000 range is considered an important price area, while some see the descending wedge pattern indicating a potential bottom, with the necessity to surpass $100,000 to confirm a strong bullish wave.
Additionally, the $93,000 level is seen as a critical point for determining the next market direction
