ChainCatcher news, CryptoQuant analyst Amr Taha stated that over $500 million worth of Bitcoin was withdrawn from trading platforms yesterday, indicating that whales are moving Bitcoin off exchanges, possibly for long-term holding or off-platform uses (such as DeFi or cold wallet storage). This is typically seen as a bullish signal, suggesting reduced selling pressure. Among these, over 7,000 Bitcoins have been withdrawn from Coinbase exchange.

Yesterday, over $150 million worth of Ethereum flowed out from 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.