Bitcoin Sees $900 Million in Outflows from Exchanges

Recent on-chain data indicates negative net Bitcoin outflows from exchanges, suggesting a potentially bullish trend for BTC.

Key Points

  • According to IntoTheBlock, Bitcoin has been leaving exchanges, reflected in the Exchange Netflow metric.
  • A negative netflow indicates that more Bitcoin is being withdrawn than deposited, often signaling long-term holding intentions by investors.
  • In the past week, nearly $900 million worth of Bitcoin was withdrawn from exchanges despite market volatility.
  • Stablecoin inflows have increased, which can indicate buying pressure for Bitcoin and other cryptocurrencies.
  • The Binance Stablecoin Exchange Reserve recently reached an all-time high.

BTC Price

Bitcoin's price has dipped to $88,600, unable to sustain recovery.

Bitcoin Price Chart