Bitcoin Exchange Outflows Hit Two-Year High Amid Market Optimism
Bitcoin is experiencing a resurgence, attributed to positive market sentiment following Donald Trump's plans to reduce tariffs on China. This has prompted Bitcoin whales to acquire nearly 20,000 BTC, resulting in significant exchange outflows.
Key Highlights
- Exchange outflows of Bitcoin have reached levels not seen in two years, indicating increased accumulation by investors.
- Net flows from exchanges have dropped over 50% in the past year, comparable to January 2023 post-FTX collapse.
- Low net flows suggest investors prefer to withdraw Bitcoin into private storage rather than sell.
- Recent buying activity by large holders has contributed to an 11% increase in Bitcoin's price.
- Investors holding between 10 and 10,000 BTC added a total of 19,255 BTC in one week.
- The current Bitcoin price is approximately $94,578, reflecting strong bullish momentum.
