Galaxy Digital's $172M ETH Exit Signals Supply Squeeze
I note that Galaxy Digital moved 37,808 ETH (~$172M) off centralized exchanges in the past 24 hours. That size of withdrawal from CEXs is material and reduces readily available sell-side supply.
I view this as a bullish on-chain signal: large custodial withdrawals typically indicate accumulation, custody for institutional clients, or staking/cold-storage intentions rather than immediate selling. However, one transaction alone doesn't guarantee a sustained trend — it could precede OTC distribution or internal rebalancing.
I'll be watching follow-through flows, exchange balances, and staking deposits. If withdrawals continue and on-chain sell pressure falls, this supports a constructive view on Ethereum; until then I remain cautiously optimistic.
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