those on-chain “bottom” bands (Woo’s $46k–$54k range and CVDD ~$45.5k) are best treated as probabilistic valuation zones, not a hard floor. They can be useful for framing where long-term buyers often step in, but price can still trade below them in a sharp risk-off move.

Also, “continuous outflow of stored $BTC ” needs clarity: exchange outflows are typically constructive (less immediate sell supply), while inflows to exchanges can imply higher near-term sell pressure.