Bitcoin (BTC) has seen a slight retreat after reaching an intraday high of $106,704. At the time of writing, the asset trades at $104,686, reflecting a mere 0.4% increase in the last 24 hours. Despite this slight pullback, BTC remains within 3.8% of its all-time high of $109,000 set in January, indicating that bullish momentum is still largely intact. Amid this price performance, data suggests that BTC’s price behavior remains supported by strategic accumulation patterns rather than short-term speculation. The return of large-scale withdrawals from centralized exchanges like Binance and Kraken may be contributing to this reduced sell-side pressure. Related Reading: Bitcoin Market Update: Spot Demand Climbs As Short-Term Profits Lose Steam Exchange Outflows and MVRV Ratio Support Accumulation Thesis Amr Taha, a contributor to CryptoQuant’s QuickTake platform, highlighted a noteworthy shift in investor behavior. According to Taha’s latest analysis, over 3,090 BTC, valued at approximately $325 million, were withdrawn from Binance in a single day. This followed an earlier 76,000 ETH withdrawal from Binance and a separate 170,000 ETH exit from Kraken. These movements suggest investors are increasingly transferring assets off exchan ..
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