Bitcoin exchange outflows exceed $1 billion daily

Following sharp price declines due to the Terra scandal and subsequent industry-wide deleveraging, Bitcoin bottomed out on June 18 at $17,600. Data showed steady BTC outflows since bottoming out, with daily outflows exceeding $1 billion daily on average.

Over the last week, the exchange exit rate has increased significantly, despite Bitcoin falling to $20,800 on August 19. This suggests that investors see value in the current price range.