[Analysis] "Bitcoin, Large Withdrawals from Coinbase... Institutional Investor Interest ↑"
Suehyeon Lee
Summary
- It was reported that large withdrawals of Bitcoin occurred from Coinbase.
- Analysis suggested that institutional investors' interest is increasing.
- Frequent Bitcoin withdrawals are analyzed as an indicator of strong interest from institutional investors.
Bitcoin (BTC) has been withdrawn in large quantities from Coinbase, leading to analysis that institutional interest in Bitcoin is increasing.
On the 10th (local time), CryptoQuant author Burak Kesmeci reported that "8,455 BTC were withdrawn in a single block from Coinbase the previous day."
He further analyzed, "This appears to be the movement of institutional investors such as BlackRock, Amazon, and Microsoft, and the frequent occurrence of such large withdrawals is a strong indicator that institutions are showing more interest in Bitcoin regardless of its price."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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