The bull market is back

According to a Coinshares report, the outflow of all crypto assets decreased significantly to $30 million this week compared to $584 million the week before. At the regional level, outflows are observed in Hong Kong, Canada, Switzerland and Germany.

Arkham analysts note that the German government continues to actively transfer BTC to exchanges: 400 BTC were transferred in the last week alone. Over the past two weeks, the total volume of transfers amounted to 1,500 BTC, which is equivalent to $94 million. As of today, Germany still owns 44,692 BTC, worth about $2.8 billion.

At the same time, BTC is seeing significant growth in new wallets, signaling bullish sentiment among institutional and retail investors.