Crypto exchange Coinbase recorded the highest outflow last week, with 10,756 Bitcoin (BTC) withdrawn in one hour.
Crypto exchange Coinbase experienced the highest outflows last week, with a massive 10,756 Bitcoin (BTC) withdrawn in one hour. The total volume was valued at around $1.1 billion, sparking slight bull signals in the market.
CryptoQuant analysts highlighted a set of massive outflows from centralized exchanges. Coinbase saw the largest volume following the Fed’s cutting interest rates. The first block contained 8,093 BTC, followed by 2,557 BTC before the hour.
Outflows from centralized exchanges indicate improving market sentiments as users opt for long-term holdings. However, inflows to these exchanges are typically associated with offloads due to the ease of transacting. As a result, the market faces high sell pressure on mounting inflows to Binance and Coinbase.
Institutional Players Lead Buys
Recent Bitcoin purchases amid the market dip were largely driven by institutional investors. Retail holders sold assets to notch gains in the last seven days after the crypto leader touched all-time highs. However, most traditional and bigger players are
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