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

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On April 26, CryptoQuant analyst Amr Taha stated that over $500 million worth of Bitcoin was withdrawn from trading platforms yesterday, indicating that whales are taking Bitcoin off exchanges, possibly for long-term holding or off-platform purposes (such as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 Among them, more than 7,000 Bitcoins have been withdrawn from CEX trading platforms.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-1.22%
DEFI7.79%
ETH-4.16%
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GateUser-0e8d267cvip
· 04-27 03:03
Hold on to HODL💎
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GateUser-0e8d267cvip
· 04-27 03:02
Hold on to HODL💎
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