Nearly 28,000 BTC left centralized exchanges in 7 days .
Bitcoin (BTC) showed a 6.6% recovery in the last seven days, and investors withdrew their BTC holdings from centralized exchanges as a result, according to data aggregator Coinglass. In the last seven days, 27,975.21 BTC left the 20 exchanges tracked by the data platform, roughly $1.9 billion at the time of writing.
Coinbase Pro saw the most outflows, with 15,891.79 BTC leaving the exchange focused on seasoned traders. Binance came in second, with investors withdrawing 7669.64 BTC from the exchange in the past week.
Crypto outflows from centralized exchanges are commonly seen as a bullish sign, indicating that investors are not inclined to sell their holdings in the short term, possibly awaiting price growth. The total amount of Bitcoin left in centralized exchanges is 1.72 million BTC, the lowest level of 2024 so far.