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Bitcoin and Ethereum See Record Outflows As Whale Movements Signal Profit-Taking

  • Bitcoin and Ethereum experienced massive outflows from exchanges, with net outflows exceeding $1 billion, the highest levels since May 2023.
  • A notable Ethereum whale transferred 10,621 ETH (valued at $32.72 million) to Binance, taking profits from their staked ETH.
  • Ethereum ETFs saw mixed movements, with the Ethereum spot ETF recording its first net outflow in recent times, while BlackRock's ETHA ETF saw a net inflow of $18.87 million in a single day.
  • These developments highlight shifting investor activity, active whale movements, and institutional confidence as the prices of ETH and BTC rise.

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