Bullish sentiment and activity appear to be returning to the broader crypto market once again, with Bitcoin steadily climbing upwards toward the $115,000 price mark. As the BTC reclaims key price levels following a rebound on Sunday, there has been a significant number of coins leaving centralized exchanges.

Sharp Decline In Bitcoin Netflow On Binance

While Bitcoin’s price is demonstrating signs of recovery, a crucial shift in action among investors on centralized exchanges has been observed in the past few days. This new investors’ trend is particularly spotted on the Binance platform, the world’s largest cryptocurrency exchange.

In a quick-take post on the CryptoQuant platform, market expert and author recognized as Burak Kesmeci reported that the Binance exchange is experiencing a noticeable change in Bitcoin movements as net deposits on Binance have drastically decreased. The sudden drop in netflows points to the heightened transfers of BTC by traders and long-term holders off crypto exchanges into more private storage or accumulation wallets. 

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Author: Godspower Owie