Bitcoin Exchange Outflows Suggest Market Is In Full Accumulation Mode | Bitcoinist.com

Since bitcoin fell below $20,000, investors across all spheres have been taking this as an opportunity to fill up their bags. This accumulation trend was not readily apparent at first given the high volatility that was triggered by the FOMC meeting. However, now that the market has settled into somewhat of a normal range, the accumulation trend looks to be in full swing.

Exchange Outflows Grow

Over the past week, the bitcoin exchange outflows have been ramping up. They had continued to surpass daily inflows, leading to negative net flows across centralized exchanges. Primarily, this accumulation trend had been led by whales, wherein a single instance, a bitcoin whale had added about 5,000 BTC to their holdings in a matter of weeks.

The combined figures for inflows and outflows in centralized exchanges also speak to this. For the last seven days, there was a total of $3.4 billi