30,745.68 BTCs were withdrawn from multiple exchanges this morning

3074568-BTCs-were-withdrawn-from-multiple-exchanges-this-morning

The output occurred in the following distribution:

1. Coinbase Pro 29,818 BTC (96%)
2. Binance 319 BTC (1%)
3. Huobi Global 304 BTC (0%)

Atypical motion for this magnitude.

However, it is not possible to know exactly the nature of this movement, citing CryptoQuant itself: "large withdrawals from exchanges that don't support custody solutions or OTC desks could be an internal transfer".

Therefore, we still don't know if the movement was really a large entity taking coins to cold storage or a transaction between exchanges' internal addresses.

If it's the first case, then we have a big reduction in net supply and a supply squeeze could be on the way.

But let's control the euphoria and wait for more confirmation data.