PANews reported on February 7 that according to Cointelegraph, CryptoQuant analyst Amr Taha pointed out in a report on February 6 that on February 6, the net outflow of Ethereum on derivatives exchanges was -300,000 (worth approximately US$817.2 million), reaching its highest level since August 2023. This is a bullish signal because traders withdrawing ETH from derivatives exchanges means reduced selling pressure, while closing leveraged positions and potentially transferring Ethereum to cold wallets.

Taha said that increased outflow of Ethereum from derivatives exchanges reduces the "immediate supply available for sale," which makes it harder for Ethereum prices to fall; if demand remains stable or increases, prices tend to rise due to reduced supply.

Cryptocurrency commentator Kyle Doops also said in a Feb. 6 X post: “Such a large outflow usually means a reduction in selling pressure and the unwinding of major positions — which is usually a bullish sign.”