The bitcoin exchange’s withdrawal reached more than $2 billion in BTC on Wednesday, and the analysis focused on potential buybacks.
Bitcoin (BTC) “large-scale accumulation” is on the radar after 31,900 BTC left Bitfinex in one day.
Main points:
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Bitcoin exchange pullback raises hopes of new round of rally this week.
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Bitfinex sees its largest daily BTC outflow since June 2025 at around 25,000 BTC.
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The stablecoin exchange stream refers to the purchase of bitcoin.
A spike in bitcoin outflows is raising eyebrows
A new analysis published on Friday by Axel Adler Jr., a contributor to the onchain analytical platform CryptoQuant, confirmed that a large BTC buying occurred this week.
On Wednesday, the exchange’s withdrawals suddenly increased, and the total withdrawals for the day approached 32,000 BTC ($2.26 billion).
“Total withdrawals for the week reached around 47,700 BTC – one of the highest weekly figures in the past year,” Adler said.
“The March 4 spike (-31,900 BTC) is unusual: one-day events of this magnitude are often associated with the transfer of large positions to cold storage, although some of such spikes may reflect internal custodian movements.”
For the week leading up to Friday, the exchange’s turnover was net negative every day – a phenomenon that Adler says has a negative impact on BTC’s price trend.
“BTC’s sustained negative flow typically signals an easing of potential selling pressure in the spot market,” he said.
“Confirmation of the bullish interpretation will occur if the net flow remains negative for another 3-5 days, without a significant return of coins to the exchanges – at which point the signal qualifies as a ‘sustainable rally’.”
CryptoQuant and CoinGlass data confirmed Wednesday’s breakout, with the Bitfinex exchange as the venue. The withdrawal was the largest Bitfinex since June 2025.
The analysis suggests “buying large positions”.
At the moment, Stablecoin’s activity has been closely aligned with the exit, and capital has flowed into exchange wallets, while BTC has gone, indicating a buy.
related to: Bitcoin Trader Sees ‘Further Lower’ As BTC Price Clears $74K Break
“At the beginning of March 2026, a large green line (~$1.1 billion) was recorded – a significant influx of liquidity into the exchanges – after which the network turnover for the current date decreased to -$37.5 million,” Adler said.
An “unusual” breakout of 32,000 BTC points to a rally at the price level around $70,000.
“This behavior is typically observed during large spot purchases where assets are acquired on an exchange and then transferred to cold storage,” the analysis concluded.
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