Over the past week, the bitcoin exchange outflows have been ramping up. They had continued to surpass daily inflows, leading to negative net flows across centralized exchanges. Primarily, this accumulation trend had been led by whales, wherein a single instance, a bitcoin whale had added about 5,000 BTC to their holdings in a matter of weeks.
The combined figures for inflows and outflows in centralized exchanges also speak to this. For the last seven days, there was a total of $3.4 billion in BTC that flowed into exchanges where the outflows came out to $4.9 billion. This means that a net negative flow of $1.4 billion for the week.
The Tether (USDT) net flows for this week also point toward this same accumulation trend. With $2 billion in USDT flowing into exchanges for the 7-day period, it shows that investors are no longer seeking safety in stablecoins and are instead putting more skin in the game with bitcoin.
Large transactions were also rampant during this time with $160.2 billion in large transactions recorded for the 7-day period. Exchange deposits have also touched a two-year low as well.