On July 7th, Bitcoin saw a large single-day outflow, with over 10,000 BTC withdrawn from centralized exchanges. According to CryptoQuant’s Netflow data, this negative spike indicates coins moving off exchanges, typically a sign of accumulation and reduced short-term selling pressure.
Despite Bitcoin hovering around $109K, such a significant outflow suggests that larger players may be positioning for long-term holding rather than preparing to sell. If this trend continues, it could strengthen bullish mid-term sentiment and signal growing confidence in price stability.
Written by Enigma Trader
