Bitcoin (BTC) Continues to Leave Major Exchanges, Is a Supply Shortage Coming?

Jakarta, Pintu News – Post-Easter Sunday, the cryptocurrency market is back in full swing with Bitcoin (BTC) leading more than double-digit gains. Although the price of Bitcoin (BTC) managed to stay above the critical $94,000 level, it seems that the cryptocurrency is starting to lose its momentum.

Introduction: Rise in Investor Confidence

Investors seem to be increasingly convinced of the promise of this latest rally, as significant amounts of Bitcoin (BTC) continue to be withdrawn from major exchanges in recent days. This suggests a change in investor sentiment and strategy that may have an impact on market dynamics going forward.

Also Read: Dogecoin’s New Breakthrough: Predicted Price Increase to $0.25!

Over 35,000 BTC Out of Coinbase and Binance

João Wedson, a crypto analyst on the CryptoQuant platform, revealed that Binance, the world’s largest cryptocurrency exchange by trading volume, has been experiencing increased activity recently. The exchange’s net flow data shows that large amounts of Bitcoin (BTC) have been withdrawn from the platform in recent days.

A total of 27,750 BTC (worth $2.63 billion) was removed from Binance on Friday, April 25. This withdrawal is one of the three largest net outflows in the exchange’s history. Large withdrawals from exchanges often signal an increase in asset holders’ confidence in the asset’s long-term potential.

Indication of Institutional Activity

Meanwhile, more than 7,000 BTC (worth approximately $66.5 million) has also been withdrawn from the Coinbase exchange. Amr Taha, another analyst from CryptoQuant, stated that these negative exchange net flows could be an indicator of increased institutional activity, as Coinbase is known to be a major crypto vendor for US-based institutions.

Taha adds, “These massive outflows usually indicate accumulation by institutions or large investors, potentially signaling bullish sentiment.” If the decline in stock exchange reserves correlates with an increase in spot demand or ETF inflows, a supply shortage may result, potentially pushing prices up.

Current Bitcoin (BTC) Price

At the time of writing, the price of Bitcoin (BTC) is just below $95,200, reflecting a gain of almost 2% in the last 24 hours. While there is some uncertainty, data from exchanges suggests that there may be more room for Bitcoin (BTC) to grow if the current trend continues.

Conclusion: What to Expect?

With Bitcoin (BTC) continuing to be withdrawn from major exchanges and strong indications of institutional activity, the market may see a period of high volatility. Investors and market watchers should pay attention to these indicators as potential signals of significant price movements in the future.

Also Read: Can Dogwifhat (WIF) Reach $1? FOMO is the main trigger!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Continues to Flow Out of Major Exchanges. Accessed on April 28, 2025
• Featured Image: Generated by AI