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CryptoQuant records the largest exchange outflow of 31,900 BTC since July 2025
On March 4, an unknown participant withdrew 31,900 $BTC (~$3 billion) from a centralized exchange (CEX). This was noted by Axel Adler Jr. from CryptoQuant.
Source: CryptoQuant.
CryptoQuant recorded the largest single-day bitcoin outflow from exchanges since July 2025 — 31,900 BTC.
Events of this magnitude are most often associated with large transfers of coins into cold storage, although some spikes may reflect internal movements by custodians, the analyst noted.
Net flows remained negative over the past seven days:
February 27 — -2,867 $BTC
February 28 — -1,205 $BTC
March 1 — -251 $BTC
March 2 — -6,129 $BTC
March 3 — -1,819 $BTC
March 4 — -31,900 $BTC
March 5 — -3,478 $BTC
As a result, the cumulative figure reached approximately 47,700 $BTC, one of the highest levels recorded over the past year.
Confirmation of the bullish interpretation will appear if the dynamics remain negative for the next 3–5 days without a noticeable return of bitcoin to exchanges. At that point, the signal would be classified as “sustained accumulation,” the expert said.
Adler Jr. also reported a significant inflow of stablecoins to centralized exchanges (CEX) in early March — about $1.1 billion. The metric later declined to the current level of -$37.5 million.
The analyst described the latest figure as “not extreme” compared with historical fluctuations — closer to neutral normalization after the spike.
“Context matters: the significant inflow at the beginning of the month converted stablecoins into bitcoin ($BTC), which explains the simultaneous abnormal outflow of coins on March 4. Two events — one mechanism,” the expert explained.
Key levels
Analyst Ali Martinez, based on realized price in the UTXO Realized Price Distribution (URPD) model, identified $70,685 as a significant support cluster for bitcoin.
Source: Ali Martinez
According to him, if bulls hold this level, they will have a strong chance of moving from $72,000 to $81,000, where supply appears relatively “thin.”
Matrixport explained the absence of an altcoin season by the presence of heavy sell orders from early token holders.
Amid widespread disappointment, analysts also pointed to a promising signal — the degree of divergence between the current crypto sector market capitalization and its 90-day moving average.
Source: Matrixport
