Bitcoin continues to show strong holder conviction. Data reveals that over 170,000 BTC—valued at approximately $15.5 billion—has recently been transferred out of major exchanges. This significant outflow suggests that large holders are accumulating and moving assets into self-custody, a pattern typically associated with reduced selling pressure and increased confidence in future price appreciation. Such movements are critical indicators for understanding market sentiment shifts and the strengthening of long-term holder positions in the current cycle.