Bitcoin Exchange Outflows Spike, Bullish Sign?

On-chain data shows the Bitcoin exchange outflows have seen a significant spike during the past day, a sign that may be bullish for the price.
Bitcoin Exchange Outflows Have Observed A Large Spike Today
As pointed out by an analyst in a CryptoQuant post, a total of 2,138 BTC has been taken out of exchanges during the last day. The “exchange outflow” is an indicator that measures the total amount of Bitcoin that’s being withdrawn from the wallets of all centralized exchanges.
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