{"id":432046,"date":"2022-04-15T11:05:00","date_gmt":"2022-04-15T08:05:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-institutional-buying-could-be-big-narrative-again-as-30k-btc-leaves-coinbase\/"},"modified":"2022-04-15T11:05:00","modified_gmt":"2022-04-15T08:05:00","slug":"bitcoin-institutional-buying-could-be-big-narrative-again-as-30k-btc-leaves-coinbase","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-institutional-buying-could-be-big-narrative-again-as-30k-btc-leaves-coinbase\/","title":{"rendered":"# Bitcoin institutional buying &#8216;could be big narrative again&#8217; as 30K BTC leaves Coinbase"},"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-6a3ce7f2e13e2\" 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-6a3ce7f2e13e2\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-institutional-buying-could-be-big-narrative-again-as-30k-btc-leaves-coinbase\/#%E2%80%9D_Bitcoin_institutional_buying_%E2%80%98could_be_big_narrative_again_as_30K_BTC_leaves_Coinbase_%E2%80%9C\" >&#8221; Bitcoin institutional buying &#8216;could be big narrative again&#8217; as 30K BTC leaves Coinbase &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-institutional-buying-could-be-big-narrative-again-as-30k-btc-leaves-coinbase\/#Coinbase_Pro_shifts_serious_amounts_of_BTC\" >Coinbase Pro shifts serious amounts of BTC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-institutional-buying-could-be-big-narrative-again-as-30k-btc-leaves-coinbase\/#Terra_keeps_up_the_buying_pressure\" >Terra keeps up the buying pressure<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_institutional_buying_%E2%80%98could_be_big_narrative_again_as_30K_BTC_leaves_Coinbase_%E2%80%9C\"><\/span>&#8221; Bitcoin institutional buying &#8216;could be big narrative again&#8217; as 30K BTC leaves Coinbase &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) may be heading under $40,000 but fresh data shows that demand from major investors is anything but decreasing.<\/p>\n<p>For Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, institutional BTC buying \u201ccould be the big narrative\u201d in the crypto space <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1514863374307569666\">once more<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Coinbase_Pro_shifts_serious_amounts_of_BTC\"><\/span>Coinbase Pro shifts serious amounts of BTC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ki highlighted figures from Coinbase Pro, the professional trading offshoot of United States exchange Coinbase, which confirm that large tranches of BTC continue to leave its books.<\/p>\n<p>Those tranches totalled 30,000 BTC in a single day this week, and the event is not an isolated one, with March seeing similar behavior. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/e97dc9a7-238a-42ca-b9be-93ecb82bd925.png\"><figcaption style=\"text-align: center;\"><em>Coinbase Pro BTC reserves vs. BTC\/USD chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>\u201c30k BTC flowed out from Coinbase today,&#8221; he noted,<\/p>\n<blockquote><p>&#8220;Institutional buys might be the big narrative again because the Executive Order did not create any hurdle.\u201d\u00a0<\/p><\/blockquote>\n<p>Last month&#8217;s U.S. executive order, designed to investigate various aspects of the cryptocurrency ecosystem, seemingly has not acted as a deterrent to large-volume investors looking for exposure.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/b7d4b8f2-c09d-4b9d-95a6-6f70184829d0.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange outflows annotated chart. Source: Ki Young Ju\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>The trend is <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>arent across exchanges, as Cointelegraph reported this week, and April is currently attempting to match March in terms of overall outflows.<\/p>\n<p>The reduction in supply contrasts with a troubling macro picture which continues to pressure risk assets including crypto. <\/p>\n<p>Bitcoin&#8217;s correlation to equities, themselves at the mercy of central bank policy, needs to break in order for conditions to improve, but analysts say that the process will be anything but smooth when it happens.<\/p>\n<p>&#8220;Correlation breaks eventually &#8211; for multiple reasons,&#8221; commentator Dylan LeClair <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DylanLeClair_\/status\/1513604568638279691\">explained<\/a> earlier this week. <\/p>\n<blockquote><p>My guess: Eventually credit system breaks and volatility explodes. BTC follows but more because of deriv traders and not spot selling. BTC bears conditioned to fade every rally get rekt as spot supply continues to constrain.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Terra_keeps_up_the_buying_pressure\"><\/span>Terra keeps up the buying pressure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meanwhile, the major buyer story of the year, that of Blockchain protocol Terra, continues. The Luna Foundation Guard (LFG), the nonprofit organization attached to Terra, has added around 2,633 BTC ($105.3 million) to its reserves over the past 48 hours.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin price levels to watch as Terra buys 2.5K BTC to nearly match Tesla<\/em><\/strong><\/p>\n<p>The Luna Foundation Guard (LFG), the nonprofit organization attached to Terra, has added around 2,633 BTC ($105.3 million) to its reserves over the past 48 hours.<\/p>\n<p>According to data from monitoring resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitinfocharts.com\/bitcoin\/address\/bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q\">BitInfoCharts<\/a>, its wallet is now the 18th largest Bitcoin wallet, containing more BTC than Tesla\u2019s corporate treasury allocation.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/d07d2875-9068-4d82-b2bb-a48ebb1df889.png\"><figcaption style=\"text-align: center;\"><em>LFG Bitcoin wallet (screenshot). Source: BitInfoCharts<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/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\/bitcoin-institutional-buying-could-be-big-narrative-again-as-30k-btc-leaves-coinbase\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin institutional buying &#8216;could be big narrative again&#8217; as 30K BTC leaves Coinbase &#8220; Bitcoin (BTC) may be heading under $40,000 but fresh data shows that demand from major investors is anything but decreasing. For Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, institutional BTC buying \u201ccould be the big narrative\u201d in the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":432047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvYTViMTdiZmYtNzI2ZC00NDJiLThlNWYtMjhjMjc2YmU5ZmExLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74956,122378,73785],"class_list":["post-432046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-coinbase","tag-terra","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432046","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=432046"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432046\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/432047"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=432046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=432046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=432046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}