Bitcoin Sees Largest Exchange Outflow Since Feb 2023 – Re-Accumulation Underway? | Bitcoinist.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin is gaining momentum once again, breaking above the $93,000 level and signaling renewed strength in the market. After weeks of volatility and hesitation, bulls appear to be in control as the leading cryptocurrency pushes toward new local highs. However, the path ahead remains challenging as macroeconomic tensions persist—particularly the escalating trade conflict between the United States and China. These global uncertainties continue to rattle investor sentiment across traditional and crypto markets.

Related Reading: Bitcoin Reclaims STH Cost Basis Level – A Springboard For The Next Move?Despite this hostile backdrop, Bitcoin’s technical and on-chain structure looks increasingly bullish. A decisive breakout above the $100,000 level is now the next major target, and reaching it could mark the beginning of a significant upward cycle. According to data from CryptoQuant, the 100-day moving average of Bitcoin netflow from exchanges has dropped to its lowest level since February 2023. This means more BTC is being withdrawn from exchanges than deposited, typically a strong signal of investor confidence and long-term holding behavior.

As outflows reach multi-year highs, it’s clear that many market participants are reducing sell-side pressure and preparing for what could be the next leg of a major rally—if key resistance levels are successfully broken in the coming days.

Bitcoin Approaches Key Level As Re-Accumulation Intensifies

Bitcoin is at a pivotal moment. After reclaiming short-term control, bulls are aiming to push the price into uncharted territory above the previous all-time high. Confidence is slowly returning to the market, but caution remains. The ongoing trade war between the US and China casts a long shadow, introducing macroeconomic risk that could stall the rally—or ignite it further, should investors seek refuge in non-sovereign assets.

Analysts are divided on what’s next. Some believe this is the beginning of Bitcoin’s breakout toward a new record run, possibly above $109,000. Others see the current surge as a cycle top forming before broader consolidation or even a downturn. What’s clear is that Bitcoin continues to draw attention as a potential driver of wealth in 2025, especially if geopolitical and economic instability persist.

Supporting this bullish outlook is fresh data from CryptoQuant. According to the platform, the 100-day moving average of Bitcoin netflow from exchanges has dropped to its lowest level since February 2023. This indicates the largest sustained outflow of BTC from exchanges in over a year—often interpreted as a sign of investor re-accumulation and long-term conviction.

Bitcoin Exchange Netflow – All Exchanges | Source: CryptoQuantHistorically, similar netflow patterns have preceded large price expansions, as coins moving off exchanges are typically destined for cold storage rather than imminent sale. If this trend holds, Bitcoin could be on the verge of a significant breakout—driven not just by technical momentum, but by strengthening fundamentals and shifting investor behavior.

Related Reading: Bitcoin Futures See Largest Liquidity Surge In A Year – Bullish Continuation?

BTC Price Holds Firm Above Key Support

Bitcoin is currently trading at $92,500, showing strong momentum after reclaiming and holding above the critical $90,000 mark. Bulls are now in control of short-term price action, with renewed confidence pushing the market higher. This rally comes at a crucial moment as global uncertainty and macroeconomic risks continue to weigh on broader financial markets.

BTC holding above $92K | Source: BTCUSDT chart on TradingView A key technical level now in focus is the 200-day moving average (MA), currently sitting around $88,700. This level has historically acted as both dynamic support and a sentiment indicator. As long as Bitcoin remains above this threshold, bullish momentum is expected to hold. A decisive close below it, however, could trigger a wave of selling pressure and a potential drop into the $80,000 range—or even lower if risk-off sentiment intensifies.

Related Reading: Bitcoin Sees Fresh Wave Of New Investors – Bottom Signal Or Bull Trap? For now, the structure looks solid, with bulls attempting to push BTC toward the $95,000–$100,000 zone in the coming sessions. Investors are watching closely for consolidation above current levels or signs of breakout strength, both of which could confirm the start of a broader uptrend. The next few days will be crucial in determining whether BTC can maintain this momentum or face a deeper pullback.

Featured image from Dall-E, chart from TradingView

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