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Just detected data showing that the world's top asset management institutions have withdrawn 600 Bitcoins from a major trading platform in one go, equivalent to approximately $56.38 million at current prices.
This move is quite significant. When large institutions transfer assets from exchanges to self-custody wallets, it usually indicates two things: either risk management, transferring assets from trading environments to safer locations; or preparing for long-term holding. Considering the recent market sentiment and Bitcoin's price trend, the latter is more likely.
On-chain large transfers have always been a market sentiment indicator. Institutional-level withdrawal waves often precede shifts in market sentiment. If this is not an isolated event but the start of a accumulation wave, it could provide short-term support for BTC.