CryptoQuant analyst: More than $500 million worth of Bitcoin flowed out of the trading platform yesterday, which may indicate a bullish market

Odaily News CryptoQuant analyst Amr Taha said that more than $500 million worth of Bitcoin was transferred out of the trading platform yesterday, indicating that whales are withdrawing Bitcoin from the trading platform, possibly for long-term holding or off-platform purposes (such as DeFi or cold wallet storage). This is generally seen as a bullish signal, meaning that selling pressure is reduced. Among them, more than 7,000 Bitcoins have been withdrawn from the Coinbase trading platform. Yesterday, more than $150 million worth of Ethereum flowed out of centralized trading platforms, which may mean that funds are accumulating or preparing for staking/DeFi activities. Similar to Bitcoin, this may also reflect bullish sentiment in the market.