According to ChainCatcher, CryptoQuant analyst Amr Taha stated that yesterday, over $500 million worth of Bitcoin was transferred out of trading platforms, indicating that whales are withdrawing Bitcoin from exchanges, potentially 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 Among these transfers, over 7,000 Bitcoin were withdrawn from the Coinbase trading platform.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, over $150 million worth of Ethereum 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.
