CryptoQuant: The withdrawal volume of BTC exchanges has reached the highest level since January 2023, which may indicate that it has entered an important accumulation stage

According to Mars Finance news, CryptoQuant posted on the X platform that BTC’s exchange withdrawals have reached the highest level since January 2023, indicating that BTC has entered an important accumulation stage. Furthermore, recent data suggests that prices are likely to rise after the market cools down (BTC fell 10% last week). Analysts pointed out that open interest in BTC contracts on derivatives exchanges fell from $18 billion to $14.2 billion, indicating a reduction in leveraged trading. This follows a period of high trading activity and could mean the market is temporarily stabilizing.