![image.png](https://images.hive.blog/DQmU4HDvXu8my4C3PMgUg7gysq4CAa91tyyWqeF6sdUYUfS/image.png)[<sup>(Source)</sup>](https://www.cnbc.com/2021/07/20/bitcoin-btc-falls-below-30000-as-cryptocurrency-market-plunges.html)



#### Evening

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BTC outflow from centralized exchanges have reached its highest this year with about 40,000 BTC being withdrawn in last week. As per [Glassnode's Weekly On-chain report](https://insights.glassnode.com/the-week-on-chain-week-31-2021/), BTC outflows from exchanges have increased to more than 100,000 BTC per month, third time since September 2019.

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![image.png](https://images.hive.blog/DQmNa65fdDRw44JbsAVrgtWJJ2URd1SBtixrfrrwRYWafnP/image.png)[<sup>(Source)</sup>](https://cointelegraph.com/news/bitcoin-outflows-from-centralized-exchanges-surge-to-100k-btc-monthly)

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Reduced supply in exchanges is a indicator of BTC moved to cold storages anticipating another bulls run. Few months back by the end of April the outflows crossed 150K per month followed by a massive bulls run that pushed price past $50K.</div>

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Considering the presumed logic, with increasing amounts of BTC moving from exchanges to cold storages as investors become more bullish about long term Bitcoin holding. But a single matric may not be used to predict the prevailing bullish sentiment.</div>

#### Fingers Crossed

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![image.png](https://images.hive.blog/DQmbrLvuKcUaQ6QGFh32C9g1XkCM5TpTJuMnVhVysT4SMTe/image.png)

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![158817836372645504 45.png](https://files.peakd.com/file/peakd-hive/xabi/vzEZjOB9-1588178363726455042045.png)

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Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@xabi/dropping-btc-reserves-in-exchanges-are-we-primed-up-for-another-bulls-run)