Bitcoin weekly CEX net outflows hit one-year high of 47,700 BTC as stablecoin flows point to large-scale spot purchases

Bitcoin recorded net outflows of 47,700 BTC from centralized exchanges in the seven days to March 7, the largest weekly outflow in nearly a year, cryptocurrency market analyst Axel said, cited by ChainThink. Daily net outflows between Feb. 27 and March 5 were 2,867, 1,205, 251, 6,129, 1,819, 31,900 and 3,478 BTC, with the most notable move on March 4 when 31,900 BTC left exchanges; Axel noted that such sizeable daily outflows are usually linked to large holders moving coins to cold wallets, though they can also reflect internal transfers at custodial institutions. Sustained net outflows from trading platforms typically signal reduced spot selling pressure, and if this pattern persists for another 3–5 days without substantial inflows, it could be confirmed as a sign of "sustained accumulation," Axel said. Axel pointed to stablecoin data showing an early-March net inflow of about $1.1 billion, followed by a rapid swing to net outflows with the current level at $37.5 million, together with the March 4 Bitcoin outflow, suggesting a full cycle in which funds entered exchanges as stablecoins, were converted into BTC and then withdrawn on-chain, a pattern Axel described as characteristic of large-scale spot buying.