Which majors saw exchange outflows?

TLDR

Bitcoin (BTC) and Ethereum (ETH) saw notable net exchange outflows this week.

1. BTC: centralized exchanges recorded a weekly net outflow of about 25,141 BTC per CoinGlass data.
2. ETH: exchange netflows turned negative by roughly $978 million over the past week per an on-chain update.

Deep Dive

1. Bitcoin Outflows

Bitcoin showed a clear move off centralized exchanges, with a weekly net outflow reported around 25,141 BTC. That scale typically signals investors shifting to self-custody or long-term holding, tightening liquid supply on venues where price discovery happens, per the CoinGlass summary.

• Exchange outflows can be bullish when they reflect accumulation rather than rotation to other venues.
• Outflows coincide with choppy macro and ETF redemptions earlier in the week, which underscores mixed signals across investor cohorts, as several reports noted ETF net outflows alongside price volatility.

2. Ethereum Outflows

Ethereums exchange netflow was negative by about $978 million over the past week, indicating more withdrawals than deposits and suggesting dip-buying plus increased self-custody, per an on-chain readout.

1. Negative netflow often reflects accumulation and lower immediate selling pressure on exchanges.
2. The report noted this pattern aligned with price testing a widely watched cost-basis zone before rebounding, consistent with buyers stepping in at perceived value.

Conclusion

BTC and ETH led major exchange outflows this week. Outflows frequently imply accumulation and tighter sell-side liquidity on exchanges, which can support prices on recoveries. However, ETF redemptions and macro jitters can offset these effects, so the signals impact depends on persistence and broader risk conditions.