Bitcoin Capital Outflow Raises Positive Expectations
CryptoNewsTerminal Staff03 Sep, 2024
Bitcoin Capital Outflow Raises Positive Expectations
Crypto.com News reported on recent data from IntoTheBlock, showing that "16,500 BTC ($1.01 billion) have been withdrawn from centralized exchanges (CEXs) in the past week." This significant outflow suggests that investors are actively purchasing Bitcoin (BTC) despite a generally negative outlook for September. This trend indicates investors' anticipation of a future bull market, defying the prevailing bearish sentiment. The substantial outflow of BTC from CEXs demonstrates a growing belief in the asset's long-term value and its potential for future growth.
