According to Foresight News, CryptoQuant analyst Woominkyu reported that the largest Bitcoin outflow occurred on July 5, 2024, with over 46,000 BTC leaving spot exchanges. This peak outflow, as shown in the data, suggests a significant amount of Bitcoin is being transferred from exchanges to wallets. Investors often interpret such large-scale withdrawals as a bullish signal, believing that major holders may anticipate a price increase or wish to hold for the long term rather than sell.
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Largest Bitcoin Outflow Recorded in 2024, Indicates Bullish Signal
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