According to online reports, CryptoQuant analyst Amr Taha pointed out in a report on February 6 that on February 6, Ethereum's net outflow on the derivatives exchange was-300,000 units (worth approximately US$817.2 million), reaching the highest level since August 2023. This is a bullish signal, because traders withdrawing ETH from the derivatives exchange means less selling pressure, while clearing leveraged positions and possibly moving Ethereum into cold wallets. Taha said the increase in Ethereum outflow from derivatives exchanges reduces the "immediate supply of available for sale," which makes it more difficult for Ethereum prices to fall; if demand remains stable or increases, prices tend to rise as supply decreases. Cryptocurrency commentator Kyle Doops also said in a February 6 X post: "Such a large outflow usually means less selling pressure and the unwinding of major positions-which is usually a bullish signal."