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CoinRSS: Bitcoin, Ethereum, Crypto News and Price Data > Blog > News > 106K Bitcoin outflows raise questions: Is BTC’s price shift imminent?
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106K Bitcoin outflows raise questions: Is BTC’s price shift imminent?

CoinRSS
Last updated: April 28, 2025 1:39 am
CoinRSS Published April 28, 2025
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Contents
Price action — nearing resistance: Breakout or rejection?Bitcoin whale activity — large transactions pushing sentimentDerivatives market – declining volume signals cautionBitcoin on-chain data – stablecoin reserves and liquidity under the spotlight
  • Bitcoin’s continued outflows from Coinbase show institutional interest despite recent price declines.
  • Decreased derivatives volume signals cautious sentiment, potentially limiting short-term price movement and volatility.

Bitcoin [BTC] experienced massive outflows from Coinbase since the beginning of 2025, with a total of 106,217 BTC exiting the exchange. At press time, Bitcoin traded at $94,039.45, down by 0.68% over the past 24 hours.

Despite the price drop, the outflows have continued, signaling a divergence between short-term price movements and long-term investor sentiment.

These ongoing outflows suggest that institutional players remain confident in Bitcoin’s future, despite the current price volatility. 

Price action — nearing resistance: Breakout or rejection?

Bitcoin’s price is currently testing key levels, with $76K acting as support and $96K as resistance.

At press time, Bitcoin edged closer to resistance, hinting at a possible breakout if momentum sustained. However, with the RSI sitting at 66.62, Bitcoin is nearing overbought territory.

While the current price trend is bullish, a pullback remains possible if the momentum fades. Still, the strong price action around these key levels suggests that Bitcoin could soon test resistance again, potentially leading to a breakout.

Source: TradingView

Bitcoin whale activity — large transactions pushing sentiment

Whale activity continues to play a significant role in shaping Bitcoin’s market sentiment. Despite price fluctuations, large Bitcoin transactions, often involving exchanges, remain consistently high.

At present, large transactions reflect a 0.96% bullish signal, suggesting ongoing activity from institutional players.

These whales demonstrate confidence in Bitcoin’s long-term potential, steadily accumulating despite market volatility.

Source: IntoTheBlock

Derivatives market – declining volume signals caution

The Bitcoin Derivatives market had seen a decline in volume, with a 40.1% decrease, bringing the total to $56.60 billion.

Open Interest also dropped by 3.6%, to $64.50 billion. These reductions reflect a cautious sentiment among traders, as many seem to be pulling back amidst the ongoing volatility.

In addition, the Options Market witnessed a sharp 69.3% plunge in volume, with Open Interest falling by 7.5%. This suggested traders sought clarity before committing, possibly signaling lower volatility ahead.

Source: Coinglass

Bitcoin on-chain data – stablecoin reserves and liquidity under the spotlight

At press time, the Exchange Stablecoin Ratio stood at 4.9958 after a 1.36% decline.

This indicates that exchanges hold a substantial proportion of Stablecoins in Reserve. A lower ratio typically signals higher buying power, which could lead to a possible price rise.

The relatively high Stablecoin Reserve is an indicator of liquidity, allowing exchanges to absorb larger trades without significant price slippage.

Source: CryptoQuant

While BTC’s outflows from Coinbase indicate strong institutional interest, the negative metrics in the derivatives market and rising RSI suggest short-term caution. 

Despite the ongoing volatility, the liquidity from stablecoins and continued institutional accumulation support Bitcoin’s long-term bullish outlook.

However, short-term price fluctuations are likely to persist until a clearer market direction emerges.

 

Next: Ethereum whales pull back, but traders, watch out THIS ‘make-or-break’ level!

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