$500M in Bitcoin leaves Coinbase as institutions buy more than miners sell

Cointelegraph

Published Dec 24, 2020 06:13AM ET

Updated Dec 25, 2020 08:20AM ET

Bitcoin (BTC) saw fresh rejection at $24,000 overnight on Dec. 24, but data shows that appetite for big buy-ins is only increasing.

As recorded by on-chain analytics resource CryptoQuant, institution-focused exchange Coinbase Pro alone saw two large withdrawals of more than 12,000 BTC ($278 million) each this week.

Coinbase Pro exchange flows chart. Source: CryptoQuant

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