{"id":565866,"date":"2021-02-27T17:23:32","date_gmt":"2021-02-27T14:23:32","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=565866"},"modified":"2021-02-27T17:25:36","modified_gmt":"2021-02-27T14:25:36","slug":"25600-bitcoin-btc-worth-1-2b-has-left-coinbase-in-the-last-week","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/25600-bitcoin-btc-worth-1-2b-has-left-coinbase-in-the-last-week\/","title":{"rendered":"25,600 Bitcoin (BTC) Worth $1.2B Has Left Coinbase in the Past Week"},"content":{"rendered":"<p><strong>In brief:<\/strong><\/p>\n<ul>\n<li><strong>25,600 Bitcoin has left Coinbase in the last week<\/strong><\/li>\n<li><strong>13k Bitcoin left Coinbase on the 25th of February<\/strong><\/li>\n<li><strong>This shows that institutions are scooping up the Bitcoin dip with Coinbase facilitating a majority of the orders<\/strong><\/li>\n<li><strong>Bitcoin bullishness might be reignited thanks to the passing of a $1.9 Trillion stimulus bill by the US Congress<\/strong><\/li>\n<\/ul>\n<p>In the past week, 25,600 <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-bitcoin-btc-news\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Bitcoin<\/a> (worth roughly $1.2 Billion) has left the crypto exchange of Coinbase. This is according to an obervation made by the team at Bloqport as seen in the following tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Over the past week, 25,600 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Bitcoin<\/a> ($1.2B) has left Coinbase according to veiwbase <a href=\"https:\/\/t.co\/8j82UHnk1b\" rel=\"nofollow\">pic.twitter.com\/8j82UHnk1b<\/a><\/p>\n<p>&mdash; Bloqport (@Bloqport) <a href=\"https:\/\/twitter.com\/Bloqport\/status\/1365605907791544320?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">February 27, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Institutions Continue to Scoop up Bitcoin<\/h2>\n<p>Such a massive amount of Bitcoin leaving Coinbase will most likely end up in the cold storage of one of the several institutions <a href=\"https:\/\/en.ethereumworldnews.com\/btc-being-sold-will-end-up-in-the-vaults-of-institutions\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">scooping up BTC<\/a> and adding it to their company&#8217;s balance sheets.<\/p>\n<p>The CEO of CryptoQuant, Ki Young Ju, captured one outflow of 13k Bitcoins from Coinbase on the 25th of this month and shared his observation through <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1364886977342963714\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">the following statement<\/a> and chart.<\/p>\n<blockquote><p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">13k <\/span><span class=\"r-18u37iz\">$BTC<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> flowed out from Coinbase a few hours ago. It seems those BTC went to multiple Coinbase custody wallets. US institutional investors are still buying Bitcoin at the 48k price. <\/span><\/p>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">This is the strongest bullish signal I&#8217;ve ever seen.<\/span><\/p><\/blockquote>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/BTC-Outflow-Coinbase-Feb-25th.jpg\"><img class=\"aligncenter size-large wp-image-565867\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/BTC-Outflow-Coinbase-Feb-25th-1024x755.jpg\" alt=\"\" width=\"1024\" height=\"755\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/BTC-Outflow-Coinbase-Feb-25th-1024x755.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/BTC-Outflow-Coinbase-Feb-25th-300x221.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/BTC-Outflow-Coinbase-Feb-25th-770x567.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/BTC-Outflow-Coinbase-Feb-25th-500x369.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/BTC-Outflow-Coinbase-Feb-25th-240x177.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/BTC-Outflow-Coinbase-Feb-25th-717x528.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/BTC-Outflow-Coinbase-Feb-25th.jpg 1270w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/p>\n<h2>Passing of a $1.9T Coronavirus Stimulus Bill Could Send Bitcoin Higher<\/h2>\n<p>At the time of writing, Bitcoin is trading at $47,400 in an attempt to capture the $48k price area as support. The latter price area will be crucial during <a href=\"https:\/\/en.ethereumworldnews.com\/grayscale-bitcoin-trust-gbtc-is-trading-at-a-3-77-discount\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">tomorrow&#8217;s weekly and monthly close<\/a> as it will determine whether Bitcoin&#8217;s bullishness is maintained through the month of March.<\/p>\n<p>However, the US Congress might have given Bitcoin another lease on life after <a href=\"https:\/\/www.cnbc.com\/2021\/02\/27\/house-passes-1point9-trillion-coronavirus-stimulus-bill.html\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">passing the highly anticipated $1.9 Trillion<\/a> COVID relief bill. The US Senate is the last hurdle for the bill to be approved. Chances are, it will sail through with minimal resistance as the Democrats control the upper house.<\/p>\n<p>The new stimulus bill will provide $1,400 payments for each individual US resident with the same amount for each dependent. Therefore, the selling pressure expected during the weekly and monthly close might just be minimal with crypto traders anticipating that a majority of the funds sent to US residents, will be used to purchase crypto.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In brief: 25,600 Bitcoin has left Coinbase in the last week 13k Bitcoin left Coinbase on the 25th of February This shows that institutions are scooping up the Bitcoin dip with Coinbase facilitating a majority of the orders Bitcoin bullishness might be reignited thanks to the passing of a $1.9 Trillion stimulus bill by the US Congress In the past week, 25,600 Bitcoin (worth roughly $1.2 Billion) has left the crypto exchange of Coinbase. This is according to an obervation [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":61004,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[1233,6961,130],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/565866"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=565866"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/565866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/61004"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=565866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=565866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=565866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}