New wallet pulls $1.71M TRUMP off Bybit as sellers keep

A newly created wallet withdrew 600,529 TRUMP worth about $1.71 million from Bybit, a whale-sized print that stands out in an otherwise weak tape. Order-flow and momentum readings still point to seller control below $3, keeping traders focused on a potential test of $2 and $1.5 support.

Key Takeaways

TRUMP has largely traded below $3 after sliding from roughly $4.4, and it was around $2.8 at press time, down 2.69% on the day and 48% year-to-date.
A newly created wallet withdrew 600,529 TRUMP (about $1.71 million) from Bybit, based on Lookonchain-tracked activity.
Spot Taker CVD data showed aggressive selling around $2.9 and $2.8, with repeated sell pressure each time TRUMP tried to reclaim $3.
Momentum stayed negative as the Stochastic Momentum Index remained below zero and printed another bearish crossover, keeping $2/$1.5 support and $4 resistance in focus.

$1.71M Bybit Withdrawal Lands as TRUMP Stays Below $3

A whale-sized TRUMP withdrawal hit the tape as the token continued to trade heavy. Lookonchain-tracked data showed a newly created wallet withdrew 600,529 TRUMP worth about $1.71 million from Bybit.

The timing matters because TRUMP has been trending lower since speculative demand tied to a U.S. President’s dinner faded nearly a month ago. After dropping from around $4.4, the token has largely traded below $3. At press time, TRUMP changed hands near $2.8, down 2.69% on the day and down 48% year-to-date.

The withdrawal is notable as a single, discrete signal of risk appetite, but it does not, by itself, change the broader market structure that has kept TRUMP pinned under a key psychological level.

Order-Flow Still Favors Sellers at $2.9–$2.8 and the $3 Flip

Short-term control still sits with sellers in the aggressive flow. CryptoQuant’s Spot Taker CVD, which tracks whether market orders are predominantly buys or sells, showed seller dominance with “aggressive exits” around $2.9 and $2.8.

That same dataset flagged a repeat pattern: selling showed up when TRUMP attempted to flip $3 back into support. In practical terms, that is the kind of supply behavior that turns a round number into a ceiling, and it helps explain why a single whale-sized withdrawal has not translated into sustained upside follow-through.

CryptoQuant’s Spot Average Order Size data also pointed to muted whale participation over the past week, suggesting the $1.71 million move may be an outlier rather than the start of broad accumulation.

Momentum and Volume Readings: SMI Bearish Crossover, Sell Volume Edge

Momentum indicators are not signaling relief yet. TradingView’s Stochastic Momentum Index (SMI) remained in negative territory and printed another bearish crossover, a configuration typically associated with trend continuation rather than reversal.

Volume and positioning snapshots leaned the same way. Coinalyze data showed 111 million in sell volume versus 104 million in buy volume, alongside net buying cited at roughly -172 million. The timeframe for those figures was not specified, but the directionality aligns with distribution conditions, not clean accumulation.

Levels Traders Are Mapping: $2 and $1.5 Support vs $4 Resistance

The roadmap being traded is straightforward. If weakness persists, the downside scenario centers on a move toward $2, with $1.5 framed as “critical support” if selling accelerates.

On the other side, the upside path requires more than a single exchange outflow. The level that matters is still $3, because prior reclaim attempts drew immediate sell pressure. A sustained shift would likely need a change in Spot Taker CVD behavior around $3, plus follow-on whale activity after the 600,529 TRUMP withdrawal, including additional large exchange outflows rather than deposits.

A reversal narrative also has a clear technical checkpoint: momentum would need to improve after the SMI’s bearish crossover, with a move back upward out of negative territory. If that happens alongside stronger flows, the cited upside target becomes a rebound toward the $4 resistance zone.

One Whale Print Isn’t a Trend Change Without a $3 Reclaim

I treat the $1.71 million Bybit withdrawal as a signal, not a regime shift. The tape is still telling traders where supply sits: aggressive selling showed up around $2.9–$2.8 and repeatedly at the $3 flip, which is exactly how downtrends stay intact even when a whale takes a swing.

The threshold that matters is a reclaim and hold above $3 with Spot Taker CVD no longer skewed to sell-side aggression. If $3 holds, the setup starts to look structural rather than narrative-driven, and $4 becomes a real resistance test instead of a headline target.

Sources

AMBCrypto