$BTC

Bitcoin Exchange Reserves Drop 120K BTC as Bullish Cycle Gains Momentum Above $102.9K

Bitcoin has continued its trend of leaving centralized exchanges at a rapid pace. In a post by CryptoGoos, the analytics reveal that BTC reserves dropped from 2.57 million to 2.45 million over three weeks, marking the largest sustained outflow since early 2021.

The CryptoQuant Bull-Bear Market Cycle Indicator has confirmed a transition into a renewed bull phase. This momentum shift coincides with Bitcoin’s price breaching the six-figure threshold for the first time in 2025.

The indicator categorizes historical sentiment into six zones, and for the first time since late 2021, the signal has turned green, labeled “Flipped Bullish.” It spans a multi-cycle view from 2013 onward, using price action and behavioral metrics across logarithmic time scales.

Two accompanying moving averages support this phase shift: the 365-day trendline has curved upward, while the 30-day average has outpaced short-term corrections. Neither metric shows signs of overextension, reinforcing the indicator's bullish signal as sustainable rather than speculative.