Quick Take
- Bitcoin is currently experiencing seven consecutive days of outflows from exchanges, according to Glassnode data
- This is the longest streak of outflows since December of last year.
- Before this recent streak of outflows, there was a week or so of inflows to exchanges around the collapse of SVB that triggered the initial panic of the current banking crisis.
- Investors still remain cautious amid market uncertainty as these are not significant withdrawal amounts.
- Illiquid supply has also increased by 44,000 Bitcoin in the past two weeks, suggesting that self-custody continues to grow.
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