Since last July, most exchanges, except Binance, FTX, Bittrex, and Bitfinex, have seen more outflows than flows, with Glassnode suggesting that sellers may be tired.
Bitcoin flows have been net negative on all exchanges since last July, but the four major exchanges have been running almost equal amounts of net positive flows against this trend.
A total of 46,000 BTC (currently valued at about $ 1.8 billion at current prices) has been net outflows from all crypto exchanges since last July.
Only Binance, Bittrex, Bitfinex and FTX have seen net positive flows of 207,000 Bitcoin (BTC), according to data from the March 7 newsletter of blockchain analytics firm Glassnode. During the same period, the net outflow from all other exchanges tracked totaled 253,000 BTC.