[Analysis] "Bitcoin, Large-Scale Withdrawals Outside Exchanges...Possibility of Price Increase"
Summary
- It was reported that more than 8,000 Bitcoins have been withdrawn from Coinbase recently.
- Such large-scale withdrawals could be attributed to increased institutional investor demand following the approval of Bitcoin ETF.
- If small investors join this trend, Bitcoin could potentially reach $100,000.
There is a forecast that Bitcoin (BTC) could rise in value due to additional factors.
On the 4th, CryptoQuant analyst Keisuke reported that "over 8,000 Bitcoins have been withdrawn from Coinbase in the past 24 hours. In the first instance, 10,862 Bitcoins were withdrawn from $96,200,000, and in the second instance, 8,625 Bitcoins were withdrawn from $95,800,000," he said.
Keisuke explained that such large-scale withdrawals could lead to an increase in Bitcoin's value. He stated, "Such large-scale transactions show strong and continuous interest in Bitcoin from institutional investors. After the approval of Bitcoin ETF, institutional demand has significantly increased," and predicted, "If small investors join this trend, Bitcoin could reach $100,000."
Meanwhile, at 2:20 PM on the same day, Bitcoin was trading at $96,225, up 0.21% from the previous day.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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