According to IntoTheBlock data, since the launch of the spot Bitcoin ETF in January, the weekly net outflow of Bitcoin from exchanges has been consistently increasing. This week, the net outflow reached $540 million, marking the highest amount since June 2023.
This reflects a belief in Bitcoin's potential as a store of value and a hedge against inflation. Long-term holders and institutional investors, in particular, may be taking a more strategic approach to their Bitcoin holdings, viewing them as a strategic asset allocation rather than a short-term speculative investment.
