The overall crypto market capitalisation has surged by over 7.3 percent in the last 24 hours, reaching $1.25 trillion, its highest valuation since April
Bitcoin price surge has triggered substantial asset outflows from major crypto exchanges. This development is seen as a bullish sign, reflecting traders' confidence in Bitcoin's continued upward trajectory. The movement of funds away from exchanges and into secure storage suggests that traders anticipate further price increases.
According to data provided by crypto analytics firm CoinGlass, Binance witnessed the largest outflow, with over $500 million leaving the exchange within the past 24 hours. This trend was followed by crypto.com, recording $49.4 million in outflows, and OKX, with $31 million. Most other exchanges saw outflows of less than $20 million.