ChainCatcher news, according to glassnode co-founder Negentropic on social media, BTC trading balances indicate bullish sentiment. At the end of last year, the amount of BTC entering exchanges (possibly for sale or collateral) increased, but this trend reversed in 2025. The significant outflows from exchanges (such as Binance) suggest that buyers are withdrawing BTC to cold storage, indicating mid-term HODL intentions.