The post 106K Bitcoin outflows raise questions: Is BTC’s price shift imminent? appeared on BitcoinEthereumNews.com.

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…

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Filed under: News - @ April 27, 2025 5:20 pm