Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Someone just bought 12000 Bitcoin on coinbase wonder why?
by
dkbit98
on 07/04/2021, 18:58:19 UTC
⭐ Merited by RickDeckard (1)
Someone just bought 12000 Bitcoin on coinbase https://cryptoquant.com/overview/full/413?window=hour
This is just a shake out of weak hands, don't get folled here Wink

This is not a a single individual who purchased and withdraw Bitcoin to his wallet but total amount of Bitcoins for specific time period and if you look at the Coinbase stats you would see that Bitcoin balance is reducing since December 2020.
And this is not the case only for Coinbase but for all other exchanges like Bitfinex, Bittrex, Bitstamp, Okex, Kraken, Huobi and other exchanges, and in addition to that it looks like miners are currently also accumulation Bitcoin.
You can see this clear trend in one of the previous detailed report from Glassnode, and that is just one more bullish case for Bitcoin but keep in mind that inflow and outflow is not totally accurate science.


https://insights.glassnode.com/the-week-on-chain-week-13-2021/