Today, I looked at the fresh statistics on cash flows, and they are quite interesting. According to Coinglass, in the last 7 days, 44,371 BTC were withdrawn from centralized exchanges. And that's quite a noticeable volume.
The largest outflow was from Bitfinex — about 27,955 BTC.
Next are Binance — approximately 7,087 BTC and OKX — around 5,097 BTC.
When I see such numbers, I always have the same question: why withdraw coins from exchanges?
Most often, the reason is quite simple — people do not intend to sell them. Bitcoins are going to cold wallets, funds, or long-term storage.
And that is why many analysts believe that the mass outflow from CEX is potentially a bullish signal for the market.
Because liquidity on exchanges is gradually decreasing. And when supply decreases, any serious demand can move the price much faster.
Of course, not everything is so unambiguous. Sometimes large holders simply redistribute assets or transfer funds between custodial services. But looking at the trend of recent months — coins are gradually continuing to leave exchanges.
And this means that some market participants are clearly betting on the long game.
Personally, such data always gives me mixed feelings. On one hand, it looks like the confidence of large players in the future of Bitcoin.
On the other hand, the less liquidity remains on exchanges, the sharper the market movements can become.
Sometimes it seems that the market is just slowly compressing a spring.
And the question is only in which direction it will shoot.