Record Bitcoin Outflow from Coinbase: $1.1 Billion Moved in Just One Hour
The largest outflow of the past week occurred on Coinbase, where a staggering 10,756 Bitcoin were withdrawn in just one hour. A closer look at the data reveals that this significant movement coincided with the announcement of the Fed's interest rate decision.
Transaction Details:
First block: 8,093 Bitcoin
Second block: 2,557 Bitcoin
Total outflow: 10,650 Bitcoin
Transaction value: $1.1 billion
The scale of this transaction strongly indicates institutional buying (RIOT and MARA) or intermediary purchases for Spot ETF demand, consistent with similar activity observed over the past year. Such movements highlight the growing influence of institutional players in the Bitcoin market.
U.S. investors continue to accumulate Bitcoin relentlessly, undeterred by price fluctuations or market downturns. Analyzing the potential impact of these significant transactions on price trends remains crucial.
Written by burakkesmeci
