Bitcoin Exchange Net Outflows Hit 47,700 BTC in Past Week, Highest Since March 2024

Bitcoin recorded net outflows of 47,700 BTC from centralized exchanges over the past seven days, the largest weekly outflow in nearly a year, data cited by analyst Axel show. Daily net outflows were 2,867, 1,205, 251, 6,129, 1,819, 31,900, and 3,478 BTC, with March 4 seeing the biggest single-day move of 31,900 BTC leaving exchanges, a size Axel said is typically seen when large holders transfer coins to cold wallets, though some flows may reflect internal transfers at custodial institutions. Axel added that sustained exchange outflows generally point to lighter spot selling pressure and said if net outflows persist for another 35 days without a notable uptick in inflows, it could validate a "sustained accumulation" signal. Stablecoin data show an early-March net inflow of about $1.1 billion followed by a quick swing to net outflows with the latest reading at $37.5 million, and Axel argued the combination of this stablecoin inflow and the sharp March 4 Bitcoin outflow suggests funds entered exchanges as stablecoins, were swapped for BTC, and then withdrawn onchain as a pattern of large-scale spot buying.