Bitcoin Outflows Signal Big Moves Despite Profit-Taking

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Bitcoin’s outflows indicate increased investor confidence, which could signal the start of a major price rise.

Bitcoin briefly surpassed $88,000 earlier this week, amidst a recovery following several catalysts, including GameStop’s surprise $1.3 billion capital raise for Bitcoin allocation. Despite this surge, the crypto asset quickly retraced, falling by 3% over the past 24 hours, as traders appear to have cashed in on the brief relief rally.

However, BTC flows across all exchanges suggest that a strong rally may come to fruition soon.

Bitcoin Withdrawals on the Rise

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