According to CryptoQuant analyst Woominkyu, the largest bitcoin outflow in 2024 occurred on July 5, with more than 46,000 BTC flowing from spot exchanges that day. The chart shows this spike in outflows, indicating that a large number of bitcoins are being transferred from exchanges to wallets; investors typically see this large withdrawal as a bullish signal, believing that large holders may expect prices to rise or want to hold for the long term rather than sell.