Papi
Largest BTC Net Outflow Since 2022
We saw the largest net outflow of BTC from exchanges since 2022, this past week. The last time we saw outflows at this level was shortly after the FTX collapse. Corresponding with this outflow was a 3% drop in supply of BTC on exchanges. Note that the next largest outflow during this period was last July, and nearly as large as what we saw this week. Despite sentiment, big buyers are stacking on dips. Potentially a fund or institution.