According to CryptoQuant, on 04.03.2026 users withdrew about 31,900 BTC from trading venues, equivalent to roughly $2.26 billion.

Exchange withdrawals

The largest portion of the outflow came from Bitfinex, which saw a withdrawal of 25,000 BTC, its biggest outflow since June of the previous year.

CryptoQuant also reported that in early March approximately $1.1 billion in stablecoins arrived on exchanges and appeared to have been converted to bitcoin at an average price near $70,000.

• 31,900 BTC total withdrawn from exchanges on 04.03.2026.
• 25,000 BTC moved off Bitfinex, the most significant withdrawal for that platform since June last year.
• Incoming stablecoins of about $1.1 billion were likely converted into bitcoin and transferred to cold wallets.

Market implications

Analysts associate these large transfers with a shift toward long-term accumulation, as movements to cold storage reduce the circulating supply on exchanges.

Such a reduction in exchange inventories is traditionally interpreted as a bullish signal, reflecting lower immediate sell-side liquidity.

If outflows persist without a timely return of coins to trading platforms over the coming days, the market could move into a phase of more sustained price appreciation.

At the same time, institutional players showed caution: spot bitcoin ETFs recorded net outflows last week, creating short-term resistance for price momentum.