Bitcoin and Ethereum faced selling pressure on November 12 and market experts believe that Bitcoin could briefly break $100K levels if selling continues. Bitcoin is facing resistance around $105-106K range and this is resulting in selling at higher levels. Similar selling was witnessed in other cryptocurrencies, led by Ethereum. Ethereum investors executed one of the most significant exchange movements of the year, pulling approximately 413,000 ETH—valued at nearly $1.4 billion—from Binance within 24 hours ending November 11. The shift marks the largest daily withdrawal since February and underscores a broader trend of institutional accumulation and declining on-exchange supplies. Analysts interpret the move as a signal of growing investor confidence and long-term holding sentiment. With Ethereum’s exchange reserves falling to their lowest in two years and market prices subdued near $3,416, strategic investors are positioning for tighter supply conditions and a possible future price rebound.

Ethereum Exodus from Binance Signals Investor Shift

In a major liquidity event, data from CryptoOnchain revealed that approximately 413,000 ETH—worth about $1.4 billion—were withdrawn from Binance over a single 24-hour window ending November 11. The action represents the largest daily Ethereum outflow from the platform since February.

Following the withdrawal, Binance’s Ethereum supply ratio dropped to 0.0327, its lowest reading since May 2025, according to figures reported by CryptoQuant. Such a notable reduction in the exchange’s holdings points to a growing investor preference for self-custody and long-term accumulation.

Ethereum’s price has eased to roughly $3,416, after peaking between $4,500 and $5,000 during the bullish August-September period. Analysts argue that, while the cryptocurrency’s near-term price action remains subdued, the declining exchange inventories could set the stage for renewed upward pressure if market demand strengthens.

Exchange Balances Fall to Multi-Year Lows

Fresh data from CoinGlass confirms that Ethereum’s supply across major centralized exchanges has fallen below 12 million tokens, a level not seen in nearly two years. The slide in balances has been persistent throughout 2025, with withdrawals accelerating notably in November after the summer highs.

While Binance reported inflows totaling 307,000 ETH across its ten largest incoming transfers during the measured period, those were offset—and surpassed—by the larger 413,000 ETH withdrawn to private storage. The resulting net outflow has effectively reduced market-ready liquidity.

This dynamic tightens available supply on trading platforms, a condition many analysts interpret as potentially bullish. Should buyer demand return in parallel with on-chain activity, the supply squeeze could offer mechanical support to Ethereum’s valuation over the medium term.

Whale Accumulation Reinforces Long-Term Optimism

Blockchain analytics continue to highlight a clear redistribution across Ethereum ownership tiers. Addresses controlling between 10,000 and 100,000 ETH have collectively increased their holdings by 7.6 million tokens since late April—a jump of about 52 percent, according to CryptoQuant.

By contrast, retail wallets holding between 100 and 1,000 ETH have seen positions shrink roughly 16 percent over the same period, suggesting that smaller participants may be rotating out while large-scale investors accumulate.

One of the most visible institutional transactions came from BitMine Immersion Technologies, which recently boosted its Ethereum holdings by purchasing 110,288 tokens last week. The acquisition brings BitMine’s total Ethereum reserves to 3.5 million ETH, equal to approximately 2.9 percent of the network’s entire circulating supply.

“The recent dip in ETH prices presented an attractive opportunity,” said Thomas Lee, chairman of BitMine and chief strategist at Fundstrat, underscoring renewed institutional confidence amid market softness.