OnChainSchool
Bitcoin Exchange Netflows Reach 3-Year Low
The 14 day SMA of Exchange Netflow reveals an average outflow of –7,500 BTC, the largest since 2022–2023 the only period surpassing the current magnitude. Remarkably, this trend unfolds despite Bitcoin recently hitting a new all time high, indicating that investors are withdrawing coins from exchanges even as prices remain elevated. Such behavior typically reflects confidence in long term value and a decline in short term selling pressure, reinforcing the view that large holders continue to accumulate rather than distribute.