📉 According to Consulta data, more than 67,800 bitcoins have been withdrawn from exchanges in just 7 days.
This represents a strong signal of accumulation by investors, as BTC moving off trading platforms usually heads to cold wallets for long-term storage.
Long-term holders are starting to move their coins back on-chain. This behavior has historically marked advanced stages of the bitcoin bull cycle.
📈 However, the price remains above on-chain cost models which historically has indicated there is still room before the peak of euphoria.
🧠 In 2017 and 2021, even with similar signals, the price continued its rise for months.
The cycle is not over.
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