‘Unprecedented capital inflows into Bitcoin’ remove 12K BTC from Coinbase in an hour

Cointelegraph

Published May 07, 2021 06:00AM ET

Updated May 08, 2021 08:00AM ET

Another day, another spike in Bitcoin (BTC) leaving major exchange Coinbase as funds pour into the largest cryptocurrency.

Data from on-chain monitoring resource Glassnode showed 12,354 BTC ($694 million) being withdrawn from the Coinbase order book in a single hour on Friday.

Coinbase Pro Bitcoin balance chart. Source: Bybt
Coinbase Bitcoin outflows annotated chart. Source: Lex Moskovski/ Twitter
Bitcoin realized cap vs. BTC/USD annotated chart. Source: Rafael Schultze-Kraft/Twitter

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