Whales Bought Bitcoin at $60K Dip as Whale Ratio Hit 61.6%

CryptoQuant reported that large holders accumulated Bitcoin near $60,000 after the Exchange Whale Ratio climbed to 61.6% and more than 11,000 BTC left trading platforms over a two- to three-day period.

The Exchange Whale Ratio measures the share of the largest inflows relative to total exchange inflows. A 61.6% reading at the $60,000–$61,000 bottom meant the biggest deposits accounted for most exchange inflow activity, CryptoQuant wrote.

The firm said coins moved from exchanges into private wallets, a pattern it classifies as accumulation rather than distribution.

The accumulation followed a sell-off that pushed Bitcoin to a 2026 low near $59,000. CryptoQuant noted Bitcoin was trading around $61,300 at the time of the report.

On-chain metrics showed continued whale accumulation in the $60,000–$63,000 range. The firm also reported that exchange reserves have trended toward multiyear lows through 2026.

CryptoQuant contrasted the recent flows with earlier whale-driven deposits that preceded selling, writing that the difference in this episode was direction: withdrawals from exchanges outpaced large inflows.

The firm recalled an earlier 2026 period when large holders accumulated about 270,000 BTC over 30 days while prices tested higher levels.

“At the $60k–$61k bottom, the Exchange Whale Ratio surged to 61.6%, proving that whales completely dominated buy-side activity and absorbed the panic,” wrote CryptoQuant analyst Woo Minkyu.

CryptoQuant identified the $60,000–$61,000 range as a likely support band if coins continue to move off exchanges.