Bitcoin whales withdrew nearly $198 million in cryptocurrency from the Kraken exchange, signaling a shift toward long-term holding strategies.
The withdrawals involved two large transfers totaling 3,080 BTC to unidentified private wallets.
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The first moved 1,265 BTC valued at $81.3 million, followed by 1,815 BTC worth $116.6 million.
Moving assets off exchanges typically reflects long-term holding rather than immediate selling, according to market analysis.
The trend helped drive Bitcoin's Stock-to-Flow Ratio up 350 percent to 46.5K in 24 hours, indicating tighter circulating supply.
Record Long-Term Holder Accumulation
Data from CryptoQuant analyst Burakkesmeci showed the 30-day LTH Net Position Change reached 1.29 million BTC on May 24, 2026, surpassing the previous record from August 2017.
Burakkesmeci noted that the record accumulation metric indicated aggressive buying near Bitcoin's realized price during the downturn.
The buying wave contributed to a 15 percent price rebound from $58,000 to $66,000.
He identified the Short-Term Holder Realized Price near $68,000 as a key technical barrier.
A sustained breakout above this level in the third quarter could strengthen short-term market momentum.
In a separate analysis, CryptoQuant contributor Nino reported increased exchange inflows from coins held between six and 12 months, suggesting mid-term holders were rebalancing portfolios ahead of market transitions.
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Market analyst Darkfost observed movements exceeding 5,000 BTC from wallets dormant for five to ten years.
However, exchange inflows did not spike, indicating funds were moved for security rather than selling.
