CryptoQuant analyst: More than $500 million worth of Bitcoin flowed out of the trading platform yesterday, which may indicate a bullish market
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Planet News: CryptoQuant analyst Amr Taha stated that yesterday, Bitcoin worth over $500 million was transferred out of trading platforms, indicating that whales are withdrawing Bitcoin from exchanges, possibly for long-term holding or off-platform purposes (such as DeFi or cold wallet storage). This is typically viewed as a bullish signal, suggesting reduced selling pressure. Among these transfers, over 7,000 Bitcoin were withdrawn from the Coinbase trading platform. Yesterday, Ethereum worth over $150 million flowed out of centralized exchanges, which may indicate fund accumulation or preparation for staking/DeFi activities. Similar to Bitcoin, this could also reflect bullish market sentiment.
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