{"id":457572,"date":"2021-02-25T20:00:19","date_gmt":"2021-02-25T20:00:19","guid":{"rendered":"https:\/\/ktsl888.com\/?p=457572"},"modified":"2024-06-11T09:54:20","modified_gmt":"2024-06-11T09:54:20","slug":"coinbase-bitcoin-outflows-bullish","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/coinbase-bitcoin-outflows-bullish\/","title":{"rendered":"Coinbase Bitcoin Outflows Are The Strongest Bullish Signal \u201cEver\u201d"},"content":{"rendered":"

Bitcoin price is trading above $50,000 once again, following a short-lived correction below the key level. Bullish news that Coinbase had filed to go public helped send the price higher this morning, but the real strength in the cryptocurrency comes from outflows leading the exchange.<\/p>\n

Here’s why one top quant analyst says that the 13K BTC outflows are the “strongest bullish signal” they’ve “ever seen.”<\/p>\n

13,000 Bitcoin Leave Coinbase, Bought Below $50,000 Price Level During Dip<\/h2>\n

A massive whale recently sold down the current peak of the ongoing Bitcoin rally, but according to Coinbase outflows institutions were ready in wait, buying the dip with whatever capital they could.<\/p>\n

Related Reading | Running Bitcoin: Passing The Torch From Hal Finney To Jack Dorsey<\/a><\/p>\n

At the low of the recent correction, some 13,000 BTC left the popular US cryptocurrency platform. The platform is said to be where Tesla and Square acquired their coins, and other major players are doing so as well.<\/p>\n

\"coinbase<\/p>\n

A total of 13,390 BTC left Coinbase yesterday after being bought at lows | Source: CryptoQuant<\/a><\/pre>\n
According to CryptoQuant CEO Ki Young Ju<\/a>, this is the “strongest bullish signal” he’s ever seen. But why exactly are BTC leaving the exchange so bullish for the leading cryptocurrency by market cap?<\/p>\n
Why Continued Outflows Are The Strongest Bullish Signal Ever<\/h2>\n
Bitcoin’s value, like any asset, is based on supply and demand<\/a>. If there is more supply than demand, price decreases. If demand outweighs supply, price appreciates.<\/p>\n
Because the total BTC supply is so scarce<\/a>, when demand reaches peak levels, price action goes parabolic to compensate for the complete lack of available supply.<\/p>\n
Coinbase outflows<\/a> of this size and more, have each time preceded a sizable bullish impulse and price increase. Outflows around early February, early January, and around Christmas all met or exceeded the total BTC leaving Coinbase yesterday.<\/p>\n
\"bitcoin<\/p>\n
A total of 13,390 BTC left Coinbase yesterday after being bought at lows | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
However, the overall reserves of BTC one exchanges still continue to dry up over time<\/a>. With so little supply to go around, and demand not yet ready to wane, the cryptocurrency could see a dramatic rebound from here.<\/p>\n
Related Reading | Forget 2021, Here\u2019s How High Bitcoin Price Can Go By 2026<\/a><\/strong><\/em><\/p>\n
Technicals do hint that price action is overheated<\/a>, but the most recent correction could be enough of a pullback to allow Bitcoin’s wildly bullish fundamentals take back over and send prices soaring again.<\/p>\n
Speculation on where the “top” of the current bull market uptrend lies ranges from $100,000 per coin to as high as $325,000 per BTC. At the current rate of appreciation, however, the low end of the range could end up selling the cryptocurrency a coin or two short<\/a>.<\/p>\n
Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is trading above $50,000 once again, following a short-lived correction below the key level. Bullish news that Coinbase had filed to go public helped send the price higher this morning, but the real strength in the cryptocurrency comes from outflows leading the exchange. Here’s why one top quant analyst says that the 13K BTC outflows are the “strongest bullish signal” they’ve “ever seen.” 13,000 Bitcoin Leave Coinbase, Bought Below $50,000 Price Level During Dip A massive whale recently sold down the current peak of the ongoing Bitcoin rally, but according to Coinbase outflows institutions were ready in wait, buying the dip with whatever capital they could. Related Reading | Running Bitcoin: Passing The Torch From Hal Finney To Jack Dorsey At the low of the recent correction, some 13,000 BTC left the popular US cryptocurrency platform. The platform is said to be where Tesla and Square acquired their coins, and other major players are doing so as well. A total of 13,390 BTC left Coinbase yesterday after being bought at lows | Source: CryptoQuant According to CryptoQuant CEO Ki Young Ju, this is the “strongest bullish signal” he’s ever seen. But why exactly are BTC leaving the exchange so bullish for the leading cryptocurrency by market cap? Why Continued Outflows Are The Strongest Bullish Signal Ever Bitcoin’s value, like any asset, is based on supply and demand. If there is more supply than demand, price decreases. If demand outweighs supply, price appreciates. Because the total BTC supply is so scarce, when demand reaches peak levels, price action goes parabolic to compensate for the complete lack of available supply. Coinbase outflows of this size and more, have each time preceded a sizable bullish impulse and price increase. Outflows around early February, early January, and around Christmas all met or exceeded the total BTC leaving Coinbase yesterday. A total of 13,390 BTC left Coinbase yesterday after being bought at lows | Source: BTCUSD on TradingView.com However, the overall reserves of BTC one exchanges still continue to dry up over time. With so little supply to go around, and demand not yet ready to wane, the cryptocurrency could see a dramatic rebound from here. Related Reading | Forget 2021, Here\u2019s How High Bitcoin Price Can Go By 2026 Technicals do hint that price action is overheated, but the most recent correction could be enough of a pullback to allow Bitcoin’s wildly bullish fundamentals take back over and send prices soaring again. Speculation on where the “top” of the current bull market uptrend lies ranges from $100,000 per coin to as high as $325,000 per BTC. At the current rate of appreciation, however, the low end of the range could end up selling the cryptocurrency a coin or two short. Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":457577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-457572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nCoinbase Bitcoin Outflows Are The Strongest Bullish Signal \u201cEver\u201d<\/title>\n<meta name=\"description\" content=\"Bitcoin price is trading above $50,000 once again, following a short-lived correction below the key level. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/ktsl888.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Coinbase Bitcoin Outflows Are The Strongest Bullish Signal \u201cEver\u201d","url":"http:\/\/ktsl888.com\/news\/coinbase-bitcoin-outflows-bullish\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/coinbase-bitcoin-outflows-bullish\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/bitcoin-strong-bull-coinbase-Depositphotos_247275322_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/bitcoin-strong-bull-coinbase-Depositphotos_247275322_xl-2015-scaled.jpg?fit=2560%2C2132"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2021-02-25T20:00:19Z","datePublished":"2021-02-25T20:00:19Z","dateModified":"2024-06-11T09:54:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Coinbase Bitcoin Outflows Are The Strongest Bullish Signal \\u201cEver\\u201d\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/coinbase-bitcoin-outflows-bullish\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/coinbase-bitcoin-outflows-bullish\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/bitcoin-strong-bull-coinbase-Depositphotos_247275322_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/bitcoin-strong-bull-coinbase-Depositphotos_247275322_xl-2015-scaled.jpg?fit=2560%2C2132\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2021-02-25T20:00:19Z\",\"datePublished\":\"2021-02-25T20:00:19Z\",\"dateModified\":\"2024-06-11T09:54:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/bitcoin-strong-bull-coinbase-Depositphotos_247275322_xl-2015-scaled.jpg?fit=2560%2C2132","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/457572"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=457572"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/457572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/457577"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=457572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=457572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=457572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}