Andrew Draugh, the head of research at Bitwise, revealed that on Thursday, centralized exchanges saw over 17K Bitcoins, equivalent to over $1.6 billion, leaving. This marks the largest Bitcoin outflow from exchanges in a day since April 2024. Draugh tweeted that whales are buying during the recent dip. Typically, when investors plan to hold Bitcoins long-term, they move them off exchanges, indicating bullish market sentiments. According to Draugh’s report, Coinbase alone registered over 15K Bitcoin outflow. Meanwhile, analysis from Timechainindex.com shows Coinbase divided four addresses holding over 20K Bitcoins into 60 addresses, possibly indicating large purchases by ETFs or MicroStrategy this week. Data from CryptoQuant also indicates that all digital currency exchanges collectively witnessed a 47K Bitcoin outflow on Thursday, with 15,800 Bitcoins being from Coinbase. Bitcoin price dropped below $96,800 towards the end of Thursday’s trading hours but then rebounded. The price surge occurred after Eric Trump, son of the US President, tweeted that it’s a good time to enter the Bitcoin market. Visit the digital currencies’ live price page to track all token and cryptocurrency prices in real-time.
