Massive Bitcoin Withdrawal from Kraken Sparks Mixed Reactions

A whopping 7,401 Bitcoin, valued at $780 million, was withdrawn from Kraken, causing a stir in the crypto community. Meanwhile, retail demand for Bitcoin has declined, while whales remain bullish, and Bitcoin ETFs face significant outflows.

Published on 2025-06-04

Massive Bitcoin Withdrawal from Kraken

Blockchain sleuth Whale Alert reported a substantial withdrawal of 7,401 Bitcoin from the U.S.-based crypto exchange Kraken. Valued at approximately $780 million, this transaction has sparked a mixed reaction within the crypto community. Enthusiasts noted the significance of such large movements, with comments like, "Whale moves rocking the Bitcoin ocean," suggesting it may be a strategic moment to reassess investment positions.

Decline in Retail Demand for Bitcoin

On-chain data from CryptoQuant indicates a 2.45% drop in retail demand for Bitcoin over the past month. This decline suggests that smaller investors have not yet reached a state of euphoria in the current market. However, whales continue to show optimism, contrasting with the cautious stance of retail investors.

Significant Outflows from Bitcoin ETFs

Santiment reported that spot Bitcoin ETFs have experienced massive outflows over the past three days, with over $1.21 billion worth of Bitcoin withdrawn. This marks the first time since mid-March that ETFs have seen consecutive outflows exceeding $1 billion. This trend could indicate a shift in investor sentiment or strategy within the Bitcoin market.

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