#Bitcoin Sees -$582M in Exchange Netflow as Funding Rate Flips Negative, "Ruga Research" Highlights. Bitcoin exchange netflow flipped from +2,109 BTC inflow to -2,533 BTC outflow on April 9. Outflows have accelerated further to -5,441 BTC on April 10, bringing total withdrawals since April 9 to 7,974 BTC worth $582 million. Exchange reserves have dropped from 2.8 million BTC on Feb. 15 to 2.701 million BTC, indicating a decline of 100,000 BTC valued at $7.3 billion. Funding rates fell to -0.253% on April 9, indicating dominance of shorts. This situation raises the chances of a potential short squeeze setup.
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