The monthly average ratio of BTC inflows to outflows on exchanges has fallen to about 0.97 and continues to decline, CryptoQuant analyst Darkfost said. The trend indicates that outflows currently dominate market activity, which Darkfost views as a positive signal for BTC accumulation. When BTC leaves exchanges in large volumes, some investors may be transferring their holdings to self-custody (holding assets independently) for longer-term ownership.