Bitcoin outflows from centralized exchanges have soared to the highest level so far this year, with approximately 40,000 BTC withdrawn in the past 7 days.

According to Glassnode’s The Week On-Chain report on August 2nd, Bitcoin outflow has accelerated to more than 100,000 BTC per month, which is the third time since September 2019. Glassnode estimates that only 13.2% of circulating BTC is currently held on exchanges-a new low in 2021. The report states that “this represents a near-complete retracement of the large inflows observed during the May sell-off.”

#BTC##KDA#