On December 27th, over 28,000 BTC were withdrawn from CEX, marking the largest single-day outflow in the past 12 months.

According to Glassnode data on December 29th, over 28,000 BTC (valued at $1.19 billion) was withdrawn from CEX on Wednesday (December 27th), marking the largest single-day outflow in BTC terms since December 14th, 2022. CryptoQuant's analysis indicates that Coinbase is the custodian for 9 of the 12 proposed BTC spot ETFs in the US. On Wednesday, over 18,000 BTC was withdrawn from the Coinbase platform, leading the cryptocurrency community to speculate whether institutional on-chain activity is related to Bitcoin spot ETFs. (CoinDesk)