Amid a sudden shift in market sentiment, over $26 billion worth of Bitcoin and Ethereum has flowed out of centralized exchanges since January 2024. However, only $9.1 billion worth of USDTether has flowed in. The sudden increase in Bitcoin and Ethereum outflows from leading cryptocurrency exchanges signals a shift in market sentiment.

In addition, Bitcoin miners are exacerbating the supply crunch. As of now, miners have reduced their Bitcoin reserves by 29,377 BTC. This has reduced Bitcoin miners' holdings from 1.8 million BTC to 1.18 million BTC. As the market is about to face a major Bitcoin crunch, will this drop lead to an artificial increase in demand, pushing BTC's price to a new all-time high?