These trends have been accompanied by a significant drop in exchange-to-exchange Bitcoin flows. This can be interpreted as a sign of a maturing market and greater confidence among investors.. Historically, spikes in these flows have coincided with periods of market turmoil, as traders moved BTC to Binance during major price declines.
From over 3.3 million BTC in early 2022 to just 2.5 million BTC in late 2024, this drop underlined a broader trend of self-custody adoption and reduced reliance on exchanges for storage. The accompanying chart illustrated this steady decline, correlating with Bitcoin’s bullish trajectory towards $100,000.Coinbase, catering largely to institutional investors, has seen significant outflows over the year, with reserves dropping from 993,000 BTC in January to 790,000 BTC in November.
The RSI’s reading of of 66.54 suggested the asset remains in overbought territory, but without alarming divergence. The moving average convergence divergence also indicated sustained bullish sentiment – A sign of investor confidence.Despite price corrections, reduced Bitcoin movements between exchanges means a lack of panic-driven selling. This stability is a departure from previous cycles where heightened flows often coincided with sharp price declines.