Data: Bitcoin Exchange Internal Flow Drops to Approximately 14,000 BTC, Hitting Lowest Level Since 2022

According to data from CryptoOnchain, the total internal flow of Bitcoin on exchanges has dropped to its lowest level since 2022, at approximately 14,000 BTC. This metric tracks the movement of BTC within exchanges, reflecting operational activity and short-term distribution readiness. Its sustained decline indicates a significant reduction in BTC flowing internally within exchanges, pointing to weakened market-making activity and a tightening of liquidity. Lower internal flow is typically consistent with increased holding behavior, reduced arbitrage activity, thinner order books, and heightened sensitivity to shocks. Currently, the Bitcoin market appears to be in a "liquidity pause" phase, which historically has been a precursor to sharp directional moves following a recovery in market activity.