Bitcoin Sees Massive 7,883 BTC Outflow From Coinbase – Are Institutions Loading Up?
Bitcoin (BTC) is trading near its all-time high of $111,980, with significant activity on major exchanges indicating increased institutional interest. Coinbase reported a net outflow of 7,883 BTC, the third-largest in a month, suggesting renewed demand. This outflow follows a daily withdrawal of 8,742 BTC, indicating more BTC left the exchange than entered. Historically, such outflows precede institutional announcements or ETF inflows, particularly as US-listed spot Bitcoin ETFs source BTC from Coinbase. Notably, Strategy, led by Michael Saylor, recently acquired 7,390 BTC, raising speculation about further purchases. The Coinbase Premium Index indicates strong buying pressure from US investors. Bitcoin is currently trading at $109,589, with indicators suggesting potential movement towards $112,000 and a bullish market sentiment as holders retain their assets amid unrealized gains.
