BTC net exchange outflows shows how much BTC is getting withdrawn from exchanges to hard wallets/private wallets.
Exchange balance dropped suddenly on Wednesday after 65,000 BTC was withdrawn at the same time BTC touched 41k. Most of the withdrawals was from Coinbase and Binance. This was the highest single day outflow since 2016.
Then yesterday the all-time record for single day outflows was smashed as 113k BTC was withdrawn. Almost 100k BTC was withdrawn from Kraken.
Exchange balances suddenly going down causes massive spike in demand as the supply goes down.
Check live exchange balances here - https://www.bybt.com/Balance
If Bitcoin closes with a green candle today then it will be 10 straight green candles, an all-time record.
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