{"id":169578,"date":"2021-02-03T12:00:00","date_gmt":"2021-02-03T09:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-bitcoin-exchange-traffic-explodes-as-analyst-says-flows-hint-at-new-btc-bull-run\/"},"modified":"2021-02-03T12:00:00","modified_gmt":"2021-02-03T09:00:00","slug":"us-bitcoin-exchange-traffic-explodes-as-analyst-says-flows-hint-at-new-btc-bull-run","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-bitcoin-exchange-traffic-explodes-as-analyst-says-flows-hint-at-new-btc-bull-run\/","title":{"rendered":"# US Bitcoin exchange traffic explodes as analyst says flows hint at new BTC bull run"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40c719dea1a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40c719dea1a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/us-bitcoin-exchange-traffic-explodes-as-analyst-says-flows-hint-at-new-btc-bull-run\/#Coinbase_in_top_400_US_sites\" >Coinbase in top 400 U.S. sites<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/us-bitcoin-exchange-traffic-explodes-as-analyst-says-flows-hint-at-new-btc-bull-run\/#Withdrawals_herald_return_to_Bitcoin_upside\" >Withdrawals herald return to Bitcoin upside<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># US Bitcoin exchange traffic explodes as analyst says flows hint at new BTC bull run <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) exchanges in the United States are seeing unprecedented popularity as a wave of adoption sweeps the market.\u00a0<\/p>\n<p>Data from statistics resources <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.alexa.com\/siteinfo\/coinbase.com\">Alexa<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.similarweb.com\/website\/coinbase.com\/\">Similarweb<\/a> shows that major exchange Coinbase now ranks within the top 1,000 most popular websites around the world.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Coinbase_in_top_400_US_sites\"><\/span>Coinbase in top 400 U.S. sites<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As BTC\/USD circles all-time highs, its run to $42,000 in January <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to have sparked a tsunami of new user engagement with some of the most popular cryptocurrency trading platforms.<\/p>\n<p>In the U.S., the focal point of institutional inflows into Bitcoin in recent months, exchanges Gemini, Kraken and Binance U.S. are all part of the top 10,000 global sites.\u00a0<\/p>\n<p>While Binance just beats Coinbase in terms of worldwide visits, the latter reigns supreme among its domestic market, ranking 386th among U.S. internet users. The data relates to December 2020, with the crypto rush at the start of this year likely hiking exchange popularity even further.<\/p>\n<p>Despite widely publicized system outages and other technical problems \u2014 phenomena which have plagued Coinbase throughout the years \u2014 its popularity remains clearly unaltered.\u00a0<\/p>\n<p>&#8220;Coinbase had 1.3M app downloads in January. That&#8217;s more than E-trade, TD Ameritrade, Charles Schwab, Fidelity, and Sofi had&#8230;.combined,&#8221; Morgan Creek Digital co-founder <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/APompliano\/status\/1356605751809216512\">Anthony Pompliano<\/a> noted on Tuesday.<\/p>\n<p>Coinbase currently ranks as the top crypto-specific finance app on the Apple App Store, with both Binance and Binance U.S. also in the top ten.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/9e44bf11-7c35-4cb3-aec1-18df2b65a741.png\"><figcaption style=\"text-align: center;\"><em>Top 10 most-downloaded finance apps in Apple App Store. Source: Similarweb<\/em><\/figcaption><\/figure>\n<p>In a further hint that bad publicity is not as bad as it may seem, retail trading app Robinhood likewise saw a huge jump in app downloads last week as users and commentators alike complained about what they viewed as arbitrary restrictions on their actions.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Withdrawals_herald_return_to_Bitcoin_upside\"><\/span>Withdrawals herald return to Bitcoin upside<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Cointelegraph reported meanwhile, Coinbase as a venue for large buys has become a useful bellwether for assessing market appetite to buy or sell.\u00a0<\/p>\n<p>This week saw large withdrawals from the exchange to private wallets, something which one analyst suggested marks a continuation of institutions buying for the long haul.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/49c23efa-5692-49ee-a027-f0240c7fd0d6.jpeg\"><figcaption style=\"text-align: center;\"><em>Coinbase Pro outflows vs. BTC\/USD. Source: Ki Young Ju\/ CryptoQuant<\/em><\/figcaption><\/figure>\n<p>&#8220;The strongest bullish signal is working,&#8221; Ki Young Ju, CEO of on-chain analytics resource CryptoQuant, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1356832182187171841\">continued<\/a> in fresh comments on Wednesday.<\/p>\n<blockquote><p>&#8220;32.4k was the bottom and $BTC price surged +13%. But as I said, institutional buying is the strongest bullish signal overriding all other bearish signals. I expect it will go up more.&#8221;<\/p><\/blockquote>\n<p>BTC\/USD is trading at around $36,000 at the time of writing, up 4.8% on the day after hitting highs of $36,820.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/us-bitcoin-exchange-traffic-explodes-as-analyst-says-flows-hint-at-new-btc-bull-run\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# US Bitcoin exchange traffic explodes as analyst says flows hint at new BTC bull run &#8221; Bitcoin (BTC) exchanges in the United States are seeing unprecedented popularity as a wave of adoption sweeps the market.\u00a0 Data from statistics resources Alexa and Similarweb shows that major exchange Coinbase now ranks within the top 1,000 most&#8230;<\/p>\n","protected":false},"author":1,"featured_media":169579,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvZDY4NmQwZmEtNDgzNC00MTJmLTk1YmItYTUyZDYwMmUxMmNkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74862,74937,74956,74860,74355,73785,71407],"class_list":["post-169578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-bitcoin","tag-bitcoin-price","tag-coinbase","tag-cryptocurrency-exchange","tag-adoption","tag-markets","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/169578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=169578"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/169578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/169579"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=169578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=169578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=169578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}