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User: Robert518

Bank of America believes that the recent increase in crypto outflows from exchanges and stablecoin net inflows indicate "bullish" market momentum.
he bank went so far as to state in the July edition of its Global Cryptocurrencies and Digital Assets report that "fading sell pressure" had now shifted to "buying."
This shift in mood can also be observed in an 11 percent increase in the digital asset market between June 29 and July 26, despite a 56 percent year-to-date decline.
"As risk assets surge, investors are exiting the sidelines. Tight supply and persistent net outflows of currency imply that investors continue to HODL "According to the research.
What's more, the current uptick in prices follows extraordinarily high CPI figures and the Federal Reserve's decision to raise interest rates by the most in 20 years.
Despite this, Bank of America believes investors have adjusted to the present macroeconomic turmoil and are ready to return to risk-on terrain.
Bitcoin, Ethereum, and FTX's native token FTT have all seen significant inflows to wallets and outflows from cryptocurrency exchanges.
This is commonly interpreted as a positive indication since investors generally remove assets from exchanges when they are just interested in retaining the item (rather than selling).

When looking at Bitcoin, for example, the top cryptocurrency had a remarkable $508 million in outflows from exchanges in the previous month. During the same time period, it increased by 19%, rising from $19,300 on July 2 to $23,160 on August 1.
According to Bank of America (BAC), the recent increase in crypto outflows from exchanges and stablecoin net inflows indicate "bullish" market momentum. And the "waning sale pressure" has given way to "purchasing."