CryptoQuant CEO says Coinbase Bitcoin outflows are a ‘bullish signal’
The CEO of CryptoQuant says a recent 15,200 BTC outflow at Coinbase is a sign that institutions are accumulating for the next Bitcoin bull break. Recent Bitcoin (BTC) outflows from Coinbase are reminiscent of the “proof-of-keys” days and could be a sign of a bullish future, according to CryptoQuant CEO Ki Young Ju.Data from the cryptocurrency analysis firm shows that more than 15,200 BTC, currently worth over $515 million, were withdrawn from Coinbase on Jan. 31.BTC outflows from Coinbase. Source: CryptoQuantAccording to Ki Young Ju, the withdrawal “went to custody wallets that only have....
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On-chain data shows despite the Bitcoin drop to $47k, Coinbase saw outflows of around 31k BTC, a sign that the market could still be bullish. Outflows Of 31k BTC On Crypto Exchange Coinbase As pointed out by a CryptoQuant post, the popular crypto exchange Coinbase has observed huge Bitcoin outflows today. As is apparent from the name, the “outflows” indicator shows the amount of BTC transferred from an exchange to personal wallets. A huge spike in the metric’s value means big investors are moving their Bitcoin out of exchanges either to hodl or for selling through OTC....
On-chain data shows the crypto exchange Coinbase observed 38k BTC in outflows shortly before Bitcoin recovered back above $30k. Bitcoin Netflow For Coinbase Pro Shows Deep Negative Spikes As pointed out by an analyst in a CryptoQuant post, outflows from Coinbase Pro wallets measured to around 38k BTC yesterday. The relevant metric here is the […]
On-chain data shows crypto exchange Coinbase saw a withdrawal of 400k Ethereum yesterday. This could be a sign of activity from institutional investors, and could prove to be bullish for the coin. Coinbase Observes Outflow Of 400,000 ETH As pointed out by a CryptoQuant post, about 400k ETH (1.5 billion at the current exchange rate) was withdrawn yesterday from the crypto exchange Coinbase. The indicator used here is the Ethereum outflow, which shows the total number of coins exiting wallets of the exchange. When the metric shows a big spike, it means a lot of ETH was withdrawn from the....
The price of Bitcoin surged past $32,000 as buyers on Coinbase aggressively accumulated BTC. Coinbase has seen a large spike in buyer activity overnight as the price of Bitcoin (BTC) surpassed $32,500 on Jan. 2. Analysts say the trend was reminiscent of MicroStrategy’s Bitcoin accumulation, possibly fueled by institutional buy orders. As a result, BTC surpassed $31,000, reaching a new all-time high.BTC/USD daily candle chart (Coinbase). Source: TradingviewCoinbase buyers were the catalyst for the Bitcoin rallyIn the last 48 hours, Coinbase has continuously seen a high premium compared to....
Macro headwinds continue to hamper Ethereum's long-term upside prospects. Ethereum's native token Ether (ETH) is poised for a mini bull run above $3,000 primarily due to a classic bullish reversal pattern on its shorter-timeframe chart, and a huge spike in ETH outflows from Coinbase.ETH price forming falling wedgeETH's price has been forming a falling wedge pattern since late March 2022, which raises its prospects of undergoing a breakout move in May.Falling wedges appear when the price trends lower inside a range defined by two descending, contracting trendlines. As a rule of technical....