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$760M Worth Of Bitcoin Transferred From Coinbase Ahead Of IPO, Report Shows

April 12, 2021 4:11 pm
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$760M Worth Of Bitcoin Transferred From Coinbase Ahead Of IPO, Report Shows

Bitcoin (CRYPTO: BTC) has been fluctuating around the $60,000 levels slowly but steadily approaching its all-time high price after breaking through $60,000 again earlier today.

What Happened: Bitcoin's price increased by nearly 22% from its 24-hours low of $50,278 to a high of $61,199 before correcting to just over $60,000.

The price movement took place as crypto asset exchanges see a massive outflow of Bitcoin, meaning that whoever owns it does not expect to sell it soon.

Related content: Benzinga's Full Upcoming and Recent IPOs Calendar

Data retrieved from cryptocurrency market data service CryptoQuant earlier today shows that 12,677 BTC worth $770 million left Coinbase Pro yesterday alone.

What Else: Data reported by the Block shows that the aggregated interest open of Bitcoin futures has reached $24.73 billion earlier today, showing unprecedented market participation.

The news follows yesterday's reports of Bitcoin seeing a price increase due to a supply shortage.

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