Bitcoin ETF

Bitcoin

Million

Grayscale Bitcoin Trust

/send

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<p lang="en-GB" xml:lang="en-GB">Major cryptocurrency tracker Whale Alert has detected four <a href="https://u.today/bitcoin-witnesses-mystical-280-million-transfer-as-btc-price-teases-pump" rel="noopener noreferrer nofollow">mammoth-sized Bitcoin transfers</a> going to Coinbase Institutional from anonymous cryptocurrency wallets.</p>
<p lang="en-GB" xml:lang="en-GB">In the meantime, 13 small BTC transfers have been made to withdraw 19,161 Bitcoin to unknown addresses, including several new Bitcoin wallets.</p>
<h2 id="21-681-btc-deposited-to-coinbase-institutional-19-161-btc-withdrawn">21,681 BTC deposited to Coinbase Institutional; 19,161 BTC withdrawn</h2>
<p lang="en-GB" xml:lang="en-GB">The aforementioned blockchain sleuth spotted four astounding transfers, carrying 9,783, 1,100, 3,000 and 7,798 Bitcoin to Coinbase Institutional from unknown cryptocurrency wallets. The total worth of these transfers in fiat amounts to more than $909 million.</p>
<blockquote>
 <p lang="en" dir="ltr">🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 9,783 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> (410,129,201 USD) transferred from unknown wallet to Coinbase Institutional<a href="https://t.co/aNn6K2yypa" rel="noopener noreferrer nofollow">https://t.co/aNn6K2yypa</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1750938100946145620?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 26, 2024</a>
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<p lang="en-GB" xml:lang="en-GB">Coinbase Institutional is a platform run by the Coinbase exchange, and it combines an advanced custody and trading platform with prime services provided by the aforementioned leading U.S. cryptocurrency exchange.</p>
<p lang="en-GB" xml:lang="en-GB">However, the Whale Alert tracking platform also registered 13 transactions that moved a total of 19,161 Bitcoin from this premium platform — chunks carrying between 1,200 and 1,479 BTC each to anonymous cryptocurrency wallets. Some of those wallets were tagged by Whale Alert as new ones.</p>
<h2 id="grayscale-continues-to-sell-btc">Grayscale continues to sell BTC</h2>
<p lang="en-GB" xml:lang="en-GB">Now as the global leading cryptocurrency Bitcoin is striving to hold above the $41,000 level and has been making moves showing high volatility, crypto whales are taking advantage of these ups and downs to make profitable trades.</p>
<p lang="en-GB" xml:lang="en-GB">Besides, <a href="https://u.today/grayscale-dumps-214-billion-in-btc-ripple-clo-exposes-major-misconduct-in-coinbase-v-sec-case" rel="noopener noreferrer nofollow">Grayscale continues to sell Bitcoin</a>, sending it out to centralized exchanges, and its customers continue to exit their Bitcoin Trust (GBTC). According to recent data presented by Chinese crypto blogger and journalist Colin Wu, on Thursday, Grayscale’s spot Bitcoin ETF faced an outflow of $671 million in BTC with a daily turnover totaling $656 million.</p>
<blockquote>
 <p lang="en" dir="ltr">Grayscale Bitcoin spot ETF GBTC had a net outflow of US$671 million on January 26, with a single-day turnover of US$656 million, setting a record for this ETF's largest single-day net outflow. Grayscale ETF’s cumulative net outflows have reached $5.46 billion, and it still holds…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1751073059363225766?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 27, 2024</a>
</blockquote>
<p lang="en-GB" xml:lang="en-GB">This was the biggest net outflow for this Bitcoin ETF made within a single day. By now, the overall outflows from Grayscale Bitcoin Trust have topped $5.46 billion worth of Bitcoin. The fund still holds a whopping $20 billion worth of Bitcoin.</p>
<h2 id="bitcoin-price-breaks-above-42-000">Bitcoin price breaks above $42,000</h2>
<p lang="en-GB" xml:lang="en-GB">On Friday, Bitcoin printed several green candlesticks to ascend above the $42,000 mark once again, showing a 5.67% rise. However, a slight decline of 1.56% followed, taking Bitcoin down.</p>
<p lang="en-GB" xml:lang="en-GB">Still, the flagship cryptocurrency is holding well above the $41,000 level, <a href="https://www.tradingview.com/symbols/BTCUSD/" rel="noopener noreferrer nofollow">changing hands at $41,544</a> at the time of this writing.</p>

Mysterious Bitcoin Whales Send $910 Million in BTC to Coinbase Institutional

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