On April 25th (local time), approximately 7,000 BTC ($500 million) was withdrawn from Coinbase Advanced, as reported by Crypto Quant contributor Amr Taha. He stated, "Large withdrawals from Coinbase can be seen as an institutional accumulation signal. If this trend coincides with an increase in spot demand or BTC spot ETF inflows, supply shortage could intensify, potentially leading to a stronger market. ETH worth $150 million was also withdrawn from centralized exchanges."
Analysis: "$500 million BTC withdrawn from Coinbase yesterday...signal of institutional buying"
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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