In a significant display of bullish sentiment, over 17,000 bitcoins, valued at more than $1.6 billion, were withdrawn from centralized exchanges on Wednesday, marking the largest single-day exodus since April 2024. According to Andrew Dragosch, Head of Research at Bitwise, this massive outflow, prominently noted in Glassnode's latest data, suggests substantial institutional purchases and a strategic accumulation by large-scale investors.Coinbase, one of the leading cryptocurrency exchanges, registered a staggering net outflow of over 15,000 BTC. This move is interpreted by analysts at Timechainindex.com as indicative of major institutional activity, possibly involving players like ETFs or MicroStrategy, which are known for their substantial Bitcoin investments.Further analysis by CryptoQuant highlighted an overall negative net flow of 47K BTC across all exchanges on the same day, with Coinbase accounting for 15.8K of this total. This trend underscores the growing preference among investors to hold Bitcoin for the long term, taking direct custody of their assets away from the exchanges.The timing of these withdrawals coincides with a brief dip in Bitcoin prices to below $96,800 during late U.S. trading hours on Wednesday. However, prices rebounded sharply early Thursday following public encouragement from Eric Trump for World Liberty Financial, a crypto platform linked to the Trump family, to make its inaugural Bitcoin investment. This event further fueled the optimistic market outlook, reinforcing the bullish momentum behind Bitcoin as it continues to attract both institutional and high-net-worth investors, according to CoinDesk.