CryptoQuant Analyst: Yesterday, over $500 million worth of Bitcoin flowed out from exchanges, potentially indicating a bullish market outlook

BlockBeats News, April 26th, CryptoQuant analyst Amr Taha stated that yesterday over $500 million worth of Bitcoin was transferred out of exchanges, indicating whales are moving Bitcoin off exchanges, possibly for long-term holding or for off-exchange purposes (such as DeFi or cold wallet storage). This is typically seen as a bullish signal, suggesting a decrease in selling pressure. Among them, over 7,000 Bitcoins have been withdrawn from the Coinbase exchange.

Yesterday, over $150 million worth of Ethereum was moved out of centralized exchanges, which may indicate fund accumulation or preparation for staking/DeFi activities. Similar to Bitcoin, this may also reflect bullish sentiment in the market.