According to @kwok_phil, crypto’s core value is self-custody that enables cross-border portability, inheritance, and censorship-resistant transfers, implying preference for holding assets off centralized venues (source: @kwok_phil on X, Aug 15, 2025). For traders, heightened self-custody narratives have historically aligned with net outflows from exchanges and lower on-exchange balances for BTC and ETH, which can affect available liquidity and the price impact of large orders (source: Glassnode, Exchange Balances and Week On-Chain reports 2022–2024). To position, monitor exchange netflows, market depth, bid-ask spreads, and stablecoin issuance alongside on-chain settlement volumes to gauge liquidity conditions and potential slippage (source: CryptoQuant Exchange Netflow data; Kaiko Market Depth and spreads metrics; Nansen stablecoin dashboards).

According to Lookonchain, large Bitcoin holders have significantly increased their accumulation activity, with the wallet bc1qcp withdrawing 1,350 BTC (worth $141.91 million) from Binance within the past 8 hours, now holding a total of 20,723 BTC ($2.19 billion). Additionally, the wallet bc1qpu, associated with Abraxas Capital, withdrew 675 BTC ($71.03 million) from Kraken within 7 hours and currently holds 1,797 BTC ($190.11 million). These substantial outflows from major exchanges indicate strong whale confidence and reduce immediate selling pressure, a factor often associated with bullish price momentum in the short term. Traders should closely monitor these on-chain movements as continued whale accumulation typically precedes significant market moves. (Source: Lookonchain Twitter, May 20, 2025)