Yes, there was a slight decrease in the amount of bitcoin held on exchanges during the last bull run, but the price had been steadily climbing before that happened, and continued to steadily climb after the number of bitcoin on exchanges started increasing again. The number of bitcoin on exchanges also decreased during the bear market at the start of 2019, and again during the bear market at the start of this year. It's a big stretch to infer that fewer bitcoin on exchanges is directly related to the price, let alone price increases.
So the sexy girl driving a car that smiled at me yesterday was not actually a girl but a man, he was on the bicycle and he didn't smile he shouted at me cause I run across his path
People are really hunting for everything now to try to make an article or prediction out of something, if the price goes up 4 days drops one day, and then goes up again two days it's the exact pattern as 687 days ago when this and that happened and so it will again.
Forgetting about the actual implication of the coins being moved in and from, I'm doubting everything that comes from glassnode, the morons already made f
ools out of themselves when they though that Paypal rumors were a trigger to an increase in transactions when in reality it was simply the weekend/workdays routine. With that in mind, I'm taking every info they have on coins sitting in exchanges with a truckload of salt.