Bitcoin Whales and ETFs Fuel Record Exodus from Exchanges as Investors Eye Further Price Rallies
• Bitcoin is experiencing record high outflows from centralized exchanges, totaling $540 million this week - the highest level in 8 months.
• Outflows indicate funds are being moved to custodial wallets, signaling confidence in further price increases.
• Bitcoin balances on major exchanges like Binance and Coinbase are declining, now at the lowest level since 2018.
• Crypto "whales" holding over 1,000 BTC are rapidly accumulating, with holdings growing 7.4% in the past month - the fastest pace in 2 years.
• Recently launched US spot Bitcoin ETFs are among the large entities buying Bitcoin, now holding nearly 300,000 BTC.