Key points:

Bitcoin exchange withdrawals spark hope of a fresh round of accumulation this week.

Bitfinex sees its largest daily BTC outflow since June 2025 at around 25,000 BTC.

Exchange stablecoin flows point to Bitcoin dip-buying.

Bitcoin withdrawal spike raises eyebrows

New analysis released on Friday by Axel Adler Jr., a contributor to onchain analytics platform CryptoQuant, confirmed that a major BTC buy occurred this week.

On Wednesday, exchange outflows suddenly spiked, with the day’s total withdrawals nearing 32,000 BTC ($2.26 billion).

“Total outflow for the week reached approximately 47,700 BTC - one of the highest weekly figures over the past year,” Adler wrote.

“The Mar 4 spike (-31,900 BTC) is anomalous: single-day events of this magnitude are most often associated with large position transfers to cold storage, though a portion of such spikes may reflect internal custodian movements.”

For the week through Friday, exchange flows were net negative every day — a phenomenon that Adler says has bullish implications for the BTC price trend.

“A sustained negative BTC netflow typically signals reduced potential selling pressure in the spot market,” he continued.

“Confirmation of the bullish interpretation will emerge if the netflow remains negative for another 3-5 days without a significant return of coins to exchanges - at that point the signal qualifies as ‘sustained accumulation.’”