30K BTC Leaves Exchanges: How Will Bitcoin’s Price React?

Bitcoin (BTC) is flashing a critical supply signal as investors withdrew at least 30,000 BTC from crypto exchanges in a week.With corporations like Strategy aggressively accumulating the number one cryptocurrency, market watchers warn of a liquidity crunch that could ignite volatility.Bitcoin Outflows Point to Reduced Selling PressureRecent on-chain data from Santiment, shared by analyst Ali Martinez on X, shows that over 30,000 BTC, valued at $2.5 billion, had been withdrawn from exchanges since March 24. Martinez also noted a parallel $106 million worth of Bitcoin had been transferred to private wallets in the last few hours.When traders remove their BTC from exchanges into private wallets, it is often for long-term holding. This reduces the available supply in the market, potentially driving up prices if demand remains strong.The trend aligns with a corporate buying spree that has intensified the supply squeeze. Strategy (formerly MicroStrategy)added6,911 BTC valued at $584 million to its holdings last week, bringing its total ownership of the asset to a staggering 506,137 BTC.Japan’s Metaplanet and California-based KULR Technology also contributed to the scarcity of available BTC, buying$12.6 millionand $5.3 million worth of the cryptocurrency, respectively. Even meme stock darling GameStop entered the fray, approving aplanthat will see it spend $1.3 billion on the digital asset.Consolidation Before the Next MoveMeanwhile, trader @TedPillows recently pointed out that BTC might be in a Wyckoff re-accumulation phase. This is when large institutional investors or the so-called “smart money” acquire crypto at lower prices, as it occurs right after a downtrend.According to Ted’s analysis, Bitcoin’s drop below $85,000 is a form of “manipulation” designed to shake out weaker hands. He predicts that if the OG cryptocurrency recovers to surpass $92,000, bearish traders could face significant losses.Changing hands at under $82,000 at the time of this writing, BTC’s price action suggests short-term weakness but long-term strength. It is down about 1.2% in the last 24 hours and 6.1% over the past seven days, a shade below the broader crypto market’s 7.60% drop in the same period. However, zooming out to the last 12 months reveals more encouraging data, with Bitcoin maintaining a 16.5% gain in that time.