Analyst: Ethereum's net outflow on derivative exchanges has reached a new high in 18 months, indicating a bullish signal

According to Cointelegraph, CryptoQuant analyst Amr Taha stated in a report on February 6th that the net outflow of Ethereum on derivative exchanges on February 6th was -300000 tokens (worth approximately $817.2 million), reaching its highest level since August 2023. This is a bullish signal as traders withdrawing ETH from derivative exchanges means less selling pressure, clearing leveraged positions, and potentially transferring Ethereum to cold wallets. Taha stated that the increase in Ethereum outflows from derivative exchanges has reduced the "real-time supply available for sale," making it more difficult for Ethereum prices to fall; If demand remains stable or increases, prices often rise due to a decrease in supply. Cryptocurrency commentator Kyle Doops also stated in his X post on February 6th, "Such a large-scale outflow usually means reduced selling pressure and the closure of major positions - this is usually a bullish signal