Whales Bought 86,702 Bitcoin in Three Weeks and 24,073 Left Exchanges in a Day. Why Hasn’t the Price Followed?

On-chain data indicate large holders accumulated 86,702 BTC over three weeks, while 24,073 BTC left exchanges in one day—signals of buying and reduced readily available supply. Yet Bitcoin’s price has not risen in step, suggesting persistent selling pressure or demand outside these flows is offsetting the accumulation. Reports that the US government moved 17,795 BTC, worth about $1.5 billion, over three days add uncertainty but do not establish that the coins were sold. The flows point to potential supply tightening, but they are not sufficient on their own to predict near-term price direction.