Bitcoin Outflows From Coinbase Hit 106,217 BTC Amid Price Volatility

Bitcoin has experienced significant outflows from Coinbase, with a total of 106,217 BTC exiting the exchange since the beginning of 2025. Despite a recent price drop, with Bitcoin trading at $94,039.45, down by 0.68% over the past 24 hours, the outflows have continued. This divergence between short-term price movements and long-term investor sentiment suggests that institutional players remain confident in Bitcoin’s future, despite current price volatility.

Bitcoin’s price is currently testing key levels, with $76K acting as support and $96K as resistance. At the time of reporting, Bitcoin edged closer to resistance, hinting at a possible breakout if momentum sustained. However, with the Relative Strength Index (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. The strong price action around these key levels suggests that Bitcoin could soon test resistance again, potentially leading to a breakout.

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.

The Bitcoin Derivatives market has 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 suggests traders are seeking clarity before committing, possibly signaling lower volatility ahead.

At the time of reporting, 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.

While Bitcoin’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.