Bitcoin Bullish Signal: Exchange Outflows Spike Up

On-chain data shows the Bitcoin exchange outflows have spiked up recently, a sign that could prove to be bullish for the crypto’s price.
Bitcoin Exchange Netflow Has Observed Deep Red Values In Recent Days
As pointed out by an analyst in a CryptoQuant post, investors have withdrawn more than 60k BTC from exchanges recently.
The relevant indicator here is the “all exchanges netflow,” which measures the net amount of Bitcoin entering or exiting wallets of all centralized exchange