Bitcoin Holds Steady at $91,268 as Matrixport Withdraws $352.5 Million BTC Amid Looming Bullish Reversal

Market analyst Lookonchain today recognized a significant observation in the Bitcoin market, a development that is likely to redefine the movement of BTC prices in the coming days. According to transactions flagged by the analyst, a prominent whale recognized to be Matrixport today withdrew 3,805 BTC (worth $352.5 million) from Binance in the last 24 hours. 

The significant withdrawal showcases ongoing large-scale movement of digital money in the crypto market, a statement about confidence and long-term planning. This huge on-chain movement to a non-custodial wallet is an indicator of high-stakes accumulation. Whales normally move assets from centralized exchanges to self-custody storage with the intent to hold for the long term, decreasing the coin supply available for immediate trading in the market. The action signals a strong belief in BTC’s future price and tightens the circulating supply on exchanges.

Whale Withdrawal and Market Rebound

These massive transactions associated with Matrixport signal rising whale activity as large investors strategically position themselves amid the crypto market rebound. The move comes after another significant whale with wallet address “34qy7UD” resurfaced after being inactive for a year and today made a withdrawal of 171 BTC worth $15.79 million from Binance.

Traditionally, whale withdrawals from exchanges indicate accumulation and function as an early signal of bullish reversals. In Matrixport’s case, the withdrawal happened amid the market recovery, potentially pushing up buying pressure on the token.

Bitcoin shows a recovery mood after climbing from $81,000 on November 21, 2025, to the current level $92,031.73 printed today, December 5. Its rebound seems to be fueled mainly by whale activity. On-chain metrics reveal a substantial difference in behavior between retail participants and whale customers during the recent consolidation. Retail traders engaged in heavy selling activity as Bitcoin dropped from its ATH of $126k, while whale investors aggressively accumulated tokens, an activity that traditionally associates with early periods of bullish trend reversals, according to the latest whale-versus-retail delta chart shared by crypto analyst Alphractal.

As per Alphractal’s report, since BTC fell to the $81k level, purchasing pressure has increased as strategic whales took advantage of market dips to accumulate at discounts, a move that counters bearish influences. The analyst’s findings indicated that the recent correction brought a buy opportunity and not a weakness in the market. If large investors maintain their accumulation pace, BTC could retest the $105,000–$108,000 region in the short term, according to the analyst.

BTC Price Action and Imminent Bullish Outlook

As Bitcoin maintains its rebounds above $91,000, its current market structure suggests a bullish outlook in the short-to-medium term. The declining BTC reserves driven by increasing self-custody token accumulations and rising ETF demands point out that Bitcoin’s market structure is entering a new bullish phase. As per the latest data reported by XWIN Research Japan, the amount of Bitcoin tokens held on the Binance exchange has dropped to its lowest levels in years. Also, Bitcoin ETFs continue to record significant net inflows in recent weeks, as buyers step back in and momentum shifts upward.