Analyst: Bitcoin CEX outflows reached a recent high in the past 7 days, while stablecoin inflows show typical characteristics of large spot purchases.

BlockBeats News, March 7, crypto market analyst Axel posted that over the past 7 days, bitcoin has continued to see net outflows from trading platforms, with a weekly total of 47,700 coins, marking a new one-year high for single-week outflows.

From February 27 to March 5, the daily net outflows of bitcoin were: -2,867, -1,205, -251, -6,129, -1,819, -31,900, and -3,478 coins, respectively. Among them, the abnormal outflow of 31,900 coins on March 4 was the most significant. Outflows of this magnitude in a single day are usually related to large holders transferring to cold wallets, though some may also reflect internal transfers within custodial institutions.

Continuous net outflows from trading platforms usually indicate a weakening of potential selling pressure in the spot market. If bitcoin net outflows continue for the next 3-5 days without large-scale inflows, it can be confirmed as a signal of "sustained accumulation."

In addition, the annual stablecoin net flow chart shows that at the beginning of March, there was a large net inflow of about $1.1 billions, but this quickly turned into a net outflow, with the current reading at -$37.5 millions.

Axel stated that the key to interpreting the data lies in correlation. The large stablecoin inflow at the beginning of March and the abnormal bitcoin outflow on March 4 form a complete operational loop: funds enter the trading platform in the form of stablecoins, are exchanged for BTC, and then withdrawn to on-chain storage. This is a typical characteristic of large-scale spot buying behavior.