Analysis: Bitcoin Exchange Outflows Signal Holder Conviction Amid Hormuz Crisis
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Bitcoin held near $70,000 on March 6 after a geopolitical shock around the Strait of Hormuz raised energy prices and triggered risk-off across global markets. Blockchain data shows continued net outflows from centralized exchanges (CEX), indicating holders are not preparing to sell and reducing immediate sell pressure—positive for crypto price stability and adoption.
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Bitcoin (BTC) held near $70,000 on March 6 after a geopolitical shock tied to tensions around the Strait of Hormuz pushed energy prices higher and triggered risk-off behavior across global markets.
Despite the turbulence, blockchain data shows BTC continuing to leave exchanges, suggesting many holders are not preparing to sell.
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