Your reasoning is a possibility.
I have seen moisture migrate in a wire before.
But if it did wouldn't you see the positive cable from the battery bad also ?
The positive cable goes straight to one lug on the solenoid where the fuse wire gets it's current from.
How did the corrosion migrate ?
Corrosion is a GALVANIC reaction between 2 different metals in the presence of an electrolyte, usually water
The reason why you see a lot at the battery - and very little at the battery + is because the flow of electricity at the - strengthens the reaction & at the + it reverses the reaction
When this was noticed it begot a whole field of engineering called CATHODIC PROTECTION where things exposed to the elements were perminantly energised to drive the galvanic cells backwards .
IT is the reason why a lot of motor vehicles went from - ground to + ground in the 40's to prevent all of the ground connections from corroding .
It was not particularly successful so in the 70's most vehicles reverted to - ground.
All corrosion is galvanic in nature be it macro , 2 or more different metals in contact or micro differences in the electro potential within the actual metal grains themselves.
Any 2 metals and in many cases a metal & a conductive non metal can make a battery remember the potato batteries you should have made in high school chemistry / physics ?
For simplicity we give specific classes of redox reactions specific names.
If we pull the surplus electrons out of the reaction vessel we call it a battery
If it happens to metal stuff we have made we call it corrosion
They are all the same thing.