Bitcoin (BTC) is hovering between $94,000 and $92,000, but investors are withdrawing assets from exchanges. Currently, BTC is at $93,750.

- According to AxelAdlerJr of CryptoQuant, exchanges are recording very low daily BTC deposits, similar to the record low in 2016. This could signal a strong price movement in the near future.

- Daily BTC deposits are only around 30,000, compared to the average of 90,000 over the past 10 years. When users are less likely to deposit BTC to exchanges, it usually means they want to keep it in their personal wallets rather than sell it.

- A negative Netflow-to-Reserve ratio indicates that BTC is being withdrawn from exchanges, which could create momentum for a price increase in the future. 📈