Insane amounts of Bitcoin are EXITING exchanges! Could this be a sign that BTC is about to breakout and test 50K?

Insane-amounts-of-Bitcoin-are-EXITING-exchanges-Could-this-be-a-sign-that-BTC-is

We are seeing massive BTC outflows (coins leaving exchanges) over the last 24 hours as the price has continued to test the 40K resistance.  This is either institutional purchases for custodial holding OR internal exchange wallet transfers.

Likely a combination of both due to the time concentrations of the transfers and BTC reserves plummeting.  Exchanges do not move this much BTC without significant reason.  Supply is reducing and demand is increasing.  I suspect 50K will be tested very soon.