ChainThink report, March 7: Cryptocurrency market analyst Axel posted that over the past 7 days, Bitcoin has experienced continuous net outflows from exchanges, totaling 47,700 BTC for the week—the highest weekly outflow in nearly one year.

From February 27 to March 5, daily net outflows of Bitcoin were: -2,867, -1,205, -251, -6,129, -1,819, -31,900, and -3,478 BTC respectively. The most significant fluctuation occurred on March 4, with a net outflow of 31,900 BTC. Such a large-scale daily outflow is typically associated with whales transferring funds to cold wallets, though partial movements may also reflect internal transfers within custodial institutions.

Continuous net outflows from exchange platforms generally indicate a weakening of potential spot market selling pressure. If Bitcoin continues to experience net outflows over the next 3–5 days without substantial inflows, this would confirm a "sustained accumulation" signal.

Additionally, the annual stablecoin net flow chart shows a notable net inflow of approximately $1.1 billion at the beginning of March, followed by a rapid shift into net outflows, with the current reading at -$37.5 million.

Axel stated that the key to data interpretation lies in correlation: the large net inflow of stablecoins at the beginning of March, coupled with the Bitcoin outflow anomaly on March 4, forms a complete operational loop—funds entered the exchange platform in stablecoin form, were converted into BTC, and then withdrawn to on-chain storage. This reflects the hallmark characteristics of large-scale spot purchasing behavior.