Corporate Bitcoin Buying Drives Massive Exchange Outflows

Recent data from Fidelity Digital Assets reveals a significant shift in the cryptocurrency market: public companies are aggressively buying Bitcoin, leading to substantial withdrawals from exchanges and potential implications for the Bitcoin price and broader market dynamics. 📈 Fidelity’s report highlights a dramatic decline in Bitcoin reserves held on exchanges, with the total amount reaching approximately 2.6 million BTC – the lowest level since November 2018. 📉 This trend isn’t just a small dip; it signifies a substantial movement of Bitcoin out of exchanges and into private hands.