Bitcoin (BTC) Whales Dumping Coins From Coinbase Exchange as Price Stalls

Bitcoin [BTC] experienced massive outflows from Coinbase since the beginning of 2025, with a total of 106,217 BTC exiting the exchange.

Bitcoin 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.

These outflows continue to pour out of the exchange, signaling a divergence between short-term price movements and long-term investor sentiment.

While the crypto behemoth faced a 0.68% setback in the past 24 hours, reducing its value to $94,039.45, these outflows suggest that institutional players remain confident in Bitcoin's future, despite the current price volatility.

Bitcoin 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 sustains. 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.

Bitcoin faces resistance at $96K and support at $76K. Credit: 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.

Bitcoin transactions reflect a 0.96% bullish signal. 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 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 suggested traders sought clarity before committing, possibly signaling lower volatility ahead.

Bitcoin derivatives market volume dropped sharply. Source: Coinglass

Bitcoin on-chain data – stablecoin reserves and liquidity

At press time, 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, enabling exchanges to absorb larger trades without significant price slippage.

Stablecoin reserves at exchanges remain high, indicating liquidity for large trades. Source: CryptoQuant

While BTC'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.