Bitcoin Continues to Flow Out of Major Exchanges — Is Supply About to Tighten?

The cryptocurrency market has been buzzing again this past week, with Bitcoin gaining more than double digits , staying above $94,000 , but showing signs of losing momentum.

However, large amounts of BTC continue to be withdrawn from exchanges , showing that investors believe in this price increase.

Over 35,000 BTC Moved Out of Coinbase and Binance
CryptoQuant analyst João Wedson said Binance has seen an increase in Bitcoin withdrawals over the past few days, according to the exchange’s netflow data.

On April 25, 27,750 BTC (worth $2.63 billion ) was withdrawn from Binance , becoming the third largest withdrawal in the history of this exchange.

Moving BTC off exchanges often signals long-term confidence in the asset.

However, João Wedson warned that outflows do not guarantee a rise in Bitcoin prices, although showing strong institutional activity is often a sign of major volatility, as was the case during China's 2021 crypto ban .

Wedson argues that sustained Bitcoin outflows from exchanges , like when FTX collapsed , are often a sign of a market bottom and recovery .

He also emphasized the need to pay attention to the overall trend of cash flow , rather than just looking at one day's activity.

Additionally, more than 7,000 BTC ( $66.5 million ) was withdrawn from Coinbase , indicating negative inflows that could indicate increased institutional activity .