Coins are moving due to fears of regulatory sanctions 

Coins-are-moving-due-to-fears-of-regulatory-sanctions

We are seeing a lot of coins moving out of exchanges while price was surging.
We believe that those two has no causation between them.
Lets take Binance reserves for example: ~70K coins has left the exchange since 26.6 (when the rumors started), most of the coins were withdrawn in this week after the news about regulatory scrutiny broke out.
Regarding the surge in price, we believe it was caused by a gamma sqweez as you can see GEX (gamma exposure & price) as we are near expiry of July options