BlockBeats news, on April 26, CryptoQuant analyst Amr Taha stated that Bitcoin worth over $500 million flowed out of exchanges yesterday, indicating that whales are withdrawing Bitcoin from exchanges, possibly for long-term holding or off-platform uses (such as DeFi or cold wallet storage). This is generally seen as a bullish sign, suggesting that selling pressure is easing. Among them, over 7,000 Bitcoins have been withdrawn from the Coinbase exchange.
Yesterday, Ethereum worth over $150 million flowed out of centralized exchanges, which may indicate that funds are accumulating or preparing for staking/DeFi activities. Similar to Bitcoin, this could also reflect bullish sentiment in the market.
