CryptoQuant analyst: Over $500 million worth of Bitcoin flowed out of trading platforms yesterday, which may indicate a bullish market.

GateUser-6433627c · 2025-04-26T11:31:42+00:00

On April 26, CryptoQuant analysts pointed out that over $500 million in Bitcoin and over $150 million in Ethereum were transferred out of trading platforms, indicating that whales may choose to hold long-term or use it for purposes like DeFi, which is seen as a bullish signal, alleviating selling pressure. Notably, over 7,000 Bitcoins were withdrawn from CEX trading platforms, and the outflow of Ethereum may signify capital accumulation or preparation for staking/DeFi activities, which could reflect bullish market sentiment.

GateUser-6433627c

2025-04-26 11:31:42

Abstract generation in progress

On April 26, CryptoQuant analyst Amr Taha stated that over $500 million worth of Bitcoin was withdrawn from trading platforms yesterday, indicating that whales are taking Bitcoin off exchanges, possibly for long-term holding or off-platform purposes (such as Decentralized Finance or Cold Wallet storage). This is often seen as a bullish signal, suggesting reduced selling pressure. Among them, more than 7,000 Bitcoins have been withdrawn from CEX trading platforms. Over $150 million worth of Ethereum flowed out of centralized trading platforms yesterday, which may imply that funds are accumulating or preparing for staking/DeFi activities. Similar to Bitcoin, this could also reflect bullish sentiment in the market.

BTC-2,06%

DEFI3,22%

ETH-2,55%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.