Bitcoin bloodbath continued this week as token prices fell to as low as $59,280 during midday trading on Wednesday amid reports that over $3.5 billion worth of BTC wallet outflows were recorded in on-chain activity across major exchanges and cryptocurrency funds.
Arkham data reported by X user Qmo revealed that BlackRock moved 2,922 bitcoins worth $182.6 million to Coinbase Prime for custody purposes. Meanwhile, data revealed outflows of 32,715 Bitcoins on Coinbase, 8,046 BTCs on Kraken, 7,381 BTC on Binance, and 6,108 BTC on the OKX exchange. Surprisingly, these trades happened within two hours, raising concerns about a coordinated dump.
