Since July 2024, more than 550,000 BTC have been withdrawn from trading platforms, according to Cryptoquant analyst Baykus. This significant outflow coincides with a rising Bitcoin price, suggesting a shift in perception from a speculative asset to a long-term store of value akin to digital gold. The continued withdrawal of Bitcoin from exchanges could further drive up its price. Despite these developments, large investors, or whales, have not yet fully entered the market. This quiet accumulation phase may signal the onset of a large-scale bull market, as the reduced supply on exchanges could lead to increased demand and higher prices.