Bitcoin has surged to a new ATH and the data behind the rally shows strong long-term conviction.

Since November, exchange inflows have dropped by 82%—from 121,000 BTC to just 22,000 $BTC. Deposits to exchanges are also falling, while $USDT reserves on centralized platforms have climbed to nearly $47 billion.

The trend suggests reduced selling pressure and plenty of liquidity waiting on the sidelines.

How long can this momentum hold?

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