Institutional investors, who bought thousands of Bitcoins (BTC), have not made a sale, although months have passed. Again, institutional investors are thought to continue to buy Bitcoin from Coinbase.
The CryptoQuant team uses Coinbase Pro and Coinbase Custody wallets to track institutional investors’ transactions. Having a large amount of coins from Coinbase Pro; It is interpreted as a US whale buying Bitcoin through OTC.
Not sold since December
These investors are thought to have purchased more than 10,900 Bitcoins on December 23. CryptoQuant CEO Ki Young Ju checked the current status of these addresses on March 5. It seems that these investors who bought Bitcoin have still not sold BTC despite all the price volatility.
They keep buying bitcoin
While some of the investors are doing HODL; some of them continue to grow their balance. Information received during the day shows that 12,297 Bitcoins have been released from the Coinbase Pro wallet. Analysts consider this to be a corporate buying indicator just like any other.
According to CryptoQuant data, their average exit price from the exchange was $ 46,686. BTC / USD is currently trading at $ 47,233.