Bitcoin Exchanges Mirror 2023 Bull Market, Whales Buy Amidst Retail Panic Selling

Recent data suggests a pattern reminiscent of the early stages of a bull market for Bitcoin. While exchanges are experiencing historically negative net flows, indicating outflows exceeding inflows, this is largely attributed to whales actively buying and retail investors selling en masse. 100-day average exchange netflows have reached two-year lows, with data from onchain analytics platform CryptoQuant confirming this trend. This suggests a potential re-accumulation of assets among investor groups.