CryptoQuant analyst: Bitcoin worth over $500 million flowed out of trading platforms yesterday, indicating a bullish market outlook

BlockBeats News: On April 26th, CryptoQuant analyst Amr Taha stated that over $500 million worth of Bitcoin was transferred out of trading platforms yesterday, indicating that whales are taking Bitcoin out of trading platforms, possibly for long-term holding or off platform purposes such as DeFi or cold wallet storage. This is usually seen as a bullish signal, indicating a reduction in selling pressure. Among them, over 7000 bitcoins have been withdrawn from the Coinbase trading platform. Yesterday, Ethereum worth over $150 million flowed out of the centralized trading platform, which may indicate that funds are accumulating or preparing for staking/DeFi activities. Similar to Bitcoin, this may also reflect the bullish sentiment in the market.