Bitcoin Sees Largest Exchange Outflow Since December as Investors Take Custody
• Over $1B in bitcoin left exchanges on Wednesday, the largest single-day outflow since December 2022 • Outflows often signal investors taking custody of coins for long-term holding • Coinbase alone saw an outflow of over 18,000 BTC, sparking speculation of institutional activity • Bitcoin balance on exchanges has dropped to the lowest level since April 2018 • Fewer coins on exchanges could mean less selling pressure and potential for bitcoin price appreciation