Over 46,000 BTC flowed out of CEX on July 5th, setting a new high for this year
News on July 8, according to CryptoQuant analyst Woominkyu, the largest outflow of Bitcoin in 2024 occurred on July 5, with more than 46,000 BTC flowing out from spot exchanges that day. The peak outflow shown in the chart indicates a large amount of Bitcoin is being transferred from exchanges to wallets; investors often view such massive withdrawals as bullish signals, believing that major holders may anticipate price increases or prefer long-term holding rather than selling.
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