Odaily Planet Daily reports that according to CryptoOnchain data, the total internal flow of Bitcoin exchanges has dropped to its lowest level since 2022, approximately 14,000 BTC. This indicator tracks the internal BTC movement within exchanges, reflecting operational activity and short-term distribution readiness. Its continuous decline indicates a significant reduction in BTC flowing within exchanges, pointing to weakened market-making activities and tightening liquidity. Lower internal flow is often associated with increased holding behavior, decreased arbitrage activity, thinner order books, and heightened sensitivity to shocks. Currently, the Bitcoin market appears to be in a “liquidity pause” phase, which historically has been a precursor to sharp directional shifts following market recovery.