Analysts: Bitcoin outflows from CEXs hit a recent high over the past 7 days, while stablecoin inflows exhibit typical characteristics of large-scale spot purchases.

On March 7th, crypto market analyst Axel reported that Bitcoin experienced a continuous net outflow from trading platforms over the past seven days, reaching a weekly total of 47,700 coins, a new high for weekly outflows in nearly a year. From February 27th to March 5th, the daily net outflows of Bitcoin were: -2,867, -1,205, -251, -6,129, -1,819, -31,900, and -3,478 coins respectively. The most significant outflow was 31,900 coins on March 4th. Such a large daily outflow is typically associated with large holders transferring funds to cold wallets, and may also reflect internal transfers within custodian institutions. Continuous net outflows from trading platforms usually indicate a weakening of potential selling pressure in the spot market. If the net outflow of Bitcoin continues over the next 3-5 days without a large-scale return, it can be confirmed as a signal of "continuous accumulation." Furthermore, the annual stablecoin net flow chart shows a large net inflow of approximately $1.1 billion in early March, but this quickly turned into a net outflow, currently reading -$37.5 million. Axel stated that the key to interpreting the data lies in the correlation. The large inflow of stablecoins in early March and the unusual outflow of Bitcoin on March 4th form a complete operational loop. Funds entered trading platforms in the form of stablecoins, were converted into BTC, and then withdrawn to on-chain storage. This is a typical characteristic of large-scale spot purchase behavior.