According to the latest report from the blockchain analysis company Glassnode, Bitcoinis currently flowing out of exchanges at a rate of -172,700 bitcoins per month.
It surpassed the previous peak created after the sell-off in June 2022. The total number of confirmed Bitcoin transactions has also risen over the past two weeks, reaching multi-month highs with 246,000 confirmed transactions per day.
Of this total, approximately 29.2% were exchange-related withdrawals (77,100 withdrawals) and 18.2% were exchange deposits (48,100 deposits).
This burst of exchange-related activity pushed the dominance of exchange withdrawals to 47.4%, the highest level so far this year.