Bitcoin (BTC) is flowing from Binance to Coinbase accordinginformation on-chain that gathersBy CryptoQuant since yesterday Coinbase’s reserves increased by approximately 12,000 BTC, while Binance decreased by 5,000 BTC.
“The decline in Bitcoin Reserve on Binance appears to be due to an outflow of retail investors,” said Bradley Park, Web 3 analyst at CryptoQuant.
“The market remains concerned about the latest legal impact on Binance,” said Greta Yuan, head of research at Hong Kong-based digital asset platform VDX. “In the short term, we will see more users transfer funds to regulated or permitted exchanges. For peace of mind”
Some analysts say Binance’s lawsuit with the U.S. Department of Justice It is the final barrier to approval for spot bitcoin ETFs, and that has an impact on capital flows.
“With the agreement in this case As a result, expectations for a Bitcoin ETF may increase to 100% as the industry will be forced to comply with rules that TradFi companies must adhere to,” Matrixport reports.
refer : coindesk.com
picture crypto-economy.com
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