$202 Million Bitcoin Whale Move Ignites Supercycle Buzz as Legendary Signals Flash Bullish

A new Bitcoin (BTC) whale wallet withdrew 2,500 BTC worth $202 million from Binance in one hour Thursday. The transfer drew attention from on-chain trackers monitoring smart money flows.

The withdrawal landed alongside a cluster of bullish technical signals from named analysts. Among them, a position change from John Bollinger and a rare weekly RSI reset flagged by market quants.

Bitcoin Whale Move Tightens Exchange Liquidity

Lookonchain shows wallet bc1qhx received the funds in two transfers, 2,250 BTC and 250 BTC, plus a small test. Exchange outflows of this size often reflect accumulation or self-custody by an institutional buyer rather than retail movement.

The withdrawal lands at a moment when Bitcoin exchange reserves have tightened. Reduced sell-side liquidity on centralized venues can amplify upside moves, particularly when paired with structural demand from regulated buyers.

Bitcoin traded near the $80,000 area through the period, reflecting a partial recovery from the recent dip. Replies to the Lookonchain post leaned bullish, with traders citing accumulation rather than panic.

Bitcoin Price Performance. Source: BeInCrypto

Bollinger and RSI Signals Add to the Bullish Cluster

John Bollinger created the Bollinger Bands indicator. His firm’s Tactica trend program flipped positive on Bitcoin and went fully invested. He flagged the position publicly on Wednesday.

Trader FinFreedom flagged the move on X, framing the indicator’s inventor going long as a contrarian bullish signal.

“The inventor of Bollinger Bands just took a position in Bitcoin…and you’re bearish,” he stated.

Quant analyst Frank cited data showing Bitcoin’s short-term holder MVRV bands breaking above the overheated zone. That marks the first such break since November 2024.

According to the analyst, the bands move with price, so the print is not automatically a top signal.

In the same tone, macro commentator Brett pointed to a separate signal on the weekly RSI. The metric dipped below 30 and crossed above 50, a pattern seen only four times before in Bitcoin’s history.

Bitcoins Weekly RSI. Source: X/Brett

“Each time this has occurred, the bottom was in,” Brett said.

Whether the signal cluster marks a confirmed bottom remains an open question. The next weekly close will test whether the RSI cross holds.

Continued exchange outflows would add weight to the accumulation case. A failure to hold the cross could quickly cool the bullish narrative.

“Bitcoin’s rally into the mid $80ks has many bears questioning their thesis, especially as several key recovery signals are now starting to flip constructive. However, the road higher is unlikely to be smooth, and multiple major resistance zones still remain overhead,” analysts at Chokeonchain warned.