On July 5, more than 46,000 BTC flowed out of CEX, the largest outflow this year
On July 8th, according to CryptoQuant analyst Woominkyu, the largest Bitcoin outflow since 2024 occurred on July 5th, with over 46,000 BTC flowing out of spot exchanges. The peak outflow shown in the chart indicates that a large amount of Bitcoin is being transferred from exchanges to wallets; investors typically view this large-scale withdrawal as a bullish signal, believing that large holders may anticipate price increases or prefer to hold long-term rather than sell.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget Spot Bot adds CATS/USDT
We are pleased to announce that Bitget spot bot has now added: CATS/USDT. Reference 1. Spot grid 2. Crash course on Spot Grid Disclaimer Despite high growth potential, cryptocurrencies still face high risks and volatility. You are strongly advised to do your own research as you invest at your own r
Microstrategy stock surges 185%, outperforming Bitcoin
Analyst predicts Bitcoin could reach $150K in ongoing cycle
ETF analyst faces backlash for misinformation about Ethereum
Trending news
MoreCrypto prices
More
