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In other words, the sell-side liquidity is drying up, suggesting scope for a sharp move on the higher side, especially as the coins withdrawn from Coinbase were moved On-chain data shows the Coinbase exchange has just seen a massive Bitcoin outflow, a sign that some large-scale buying might be going on. As pointed out by an analyst in a CryptoQuant Leading US cryptocurrency exchange, Coinbase has recorded a major outflow of BTC from the platform. According to CryptoQuant, Coinbase saw 30,000 BTC leave Data shows Bitcoin has just seen its second large outflow from Coinbase in a week, as almost $1.2 billion in BTC has left the platform. As an analyst in a CryptoQuant Quicktake post Almost $1 billion of crypto was transferred out of Coinbase by multiple investors last week, representing one of the largest outflows ever from the U.S.'s biggest

$1.2 Billion in Bitcoin Leaves Coinbase for Cold Wallets: What It Means

A significant Bitcoin outflow from Coinbase has sparked intense interest in the crypto community. This weekend, almost $1.2 billion worth of BTC was transferred out of Coinbase, a leading US cryptocurrency exchange, to cold wallets. This marks one of the largest outflows ever from the U.S.'s biggest exchange, raising questions about potential market impact.

On-chain data shows the Coinbase exchange has just seen a massive Bitcoin outflow, a sign that some large-scale buying might be going on. According to CryptoQuant, Coinbase saw 30,000 BTC leave, representing a substantial movement of digital assets. Data shows Bitcoin has just seen its second large outflow from Coinbase in a week, reinforcing the trend.

Why the Massive Bitcoin Outflow from Coinbase Matters

The movement of such a large quantity of Bitcoin off Coinbase and into cold wallets suggests a long-term holding strategy by investors. As pointed out by an analyst in a CryptoQuant Quicktake post, this indicates strong conviction in Bitcoin's future potential. The withdrawal of these coins from the exchange reduces the available supply for trading.

In other words, the sell-side liquidity is drying up, suggesting scope for a sharp move on the higher side, especially as the coins withdrawn from Coinbase were moved. The reduced supply, combined with sustained or increased demand, could potentially drive the price of Bitcoin upwards. This makes the recent Coinbase outflow a key indicator for market watchers.

Coinbase Bitcoin Outflow: Analysis and Implications

An analyst in a CryptoQuant Leading US cryptocurrency exchange, Coinbase, has recorded a major outflow of BTC from the platform. Almost $1 billion of crypto was transferred out of Coinbase by multiple investors last week, representing one of the largest outflows ever from the U.S.'s biggest exchange.

The implications of this outflow are far-reaching. It could signal a shift in investor sentiment, with more individuals and institutions choosing to hold Bitcoin for the long term rather than actively trading it. Keep an eye on market trends as this significant event unfolds and potentially impacts the future value of Bitcoin.

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