Latest on-chain data shows that $BTC exchange outflows are accelerating: exchanges saw net outflows of around 24,073 bitcoins this Monday, the largest single-day outflow in seven months. According to Santiment, the amount of bitcoin held on exchanges has now fallen to around 6.5% of the total supply.
Large outflows are generally seen as a bullish signal—they suggest reduced selling pressure, with investors more inclined to accumulate coins and hold them long term. The last time outflows of a similar scale occurred was March 1.
#Bitcoin #Cryptocurrency (Source: X)
Large outflows are generally seen as a bullish signal—they suggest reduced selling pressure, with investors more inclined to accumulate coins and hold them long term. The last time outflows of a similar scale occurred was March 1.
#Bitcoin #Cryptocurrency (Source: X)