Pray, direct your attention to the latest sermon from CryptoQuant: behold, the American temple of digital commerce, Coinbase, has been rather unceremoniously relieved of about half a billion dollarsâ worth of Bitcoin. One must wonder if the cryptic deities of the blockchain are playing a merry trick on us mortals.
An oracleâor as they call themselves, an analystâat CryptoQuant has generously offered an interpretation of these escapades, which seems less an enigma and more an extravagant game of hide-and-seek with digital gold.
$500 million in Bitcoin on the Run đââď¸đ¨
On the 25th of April, a most dramatic exodus unfolded: over 7,000 Bitcoins took flight from Coinbaseâs vaults, as spotted by our vigilant friends at CryptoQuant. The sum? A cool five hundred million dollars, give or take a digital satoshi.
Over 7,000 Bitcoin withdrawn from Coinbase
âOver $500 million worth of BTC was moved out of exchanges, suggesting whales are withdrawing Bitcoin for long-term holding or off-platform use (e.g., DeFi, cold storage).â â By Amr Taha
Link ⤾ď¸
â CryptoQuant.com (@cryptoquant_com) April 26, 2025
Remarkably, just a few days earlier, the withdrawals nearly flirted with a staggering $1.5 billion. Though the data sprawls across many a platform, our analyst insists only Coinbase suffered this grand hemorrhaging of BTC.
Speculations abound, but the analystâs verdict is as clear as a crystal punch bowl at a Victorian soirĂŠe: accumulation. Financial institutions, those behemoths of thrift and calculation, are most likely stuffing their coffers with Bitcoin, favoring Coinbase as their purveyor. Such extravagant outflows usually whisper sweet nothings about intentions to hoard for the long haul.
And might I suggest, these purchases subtly applaud the birth of spot Bitcoin ETFs? Our learned friend Amr Taha posits that this scene might just be the bullish fanfare investors have been eagerly awaiting.
Bitcoin ETFs Guzzle $477.93 Million in Daily Flows â The Financial Feast đž
Meanwhile, those delightful creatures known as spot Bitcoin ETFs continue their gluttonous consumption of digital coins. According to the sage @lookonchain, April 25 was a veritable banquet, with inflows totalling an eyebrow-raising $477.93 million.
Apr 25 Update:
10 #Bitcoin ETFs
NetFlow: +5,037 $BTC(+$477.93M)đ˘#iShares(Blackrock) inflows 3,500 $BTC($332.07M) and currently holds 586,164 $BTC($55.62B).9 #Ethereum ETFs
NetFlow: +31,199 $ETH(+$55.5M)đ˘#iShares(Blackrock) inflows 22,704 $ETH($40.39M) and currently holdsâŚâ Lookonchain (@lookonchain) April 25, 2025
Leading this orgy of acquisition is the colossus BlackRock, who has inhaled 3,500 Bitcoinsâvalued at $332.07 millionâas if it were mere hors d’oeuvres. Over the week, this titan has devoured nearly 13,000 BTC, accumulating a breathtaking $55.62 billion of digital treasure.
Following close on the heels is 21 ArkShares, who swallowed over a thousand BTC that Friday alone, with Grayscale Mini Bitcoin Trust and Bitwise joining this rather exclusive gluttony.
All of this fed the fever that saw Bitcoin himself stampede past $95,000, nearly testing the lofty gates of $96,000âone can almost hear the champagne corks popping in the virtual boardrooms.
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2025-04-26 23:12