{"id":459648,"date":"2021-03-26T20:00:18","date_gmt":"2021-03-26T20:00:18","guid":{"rendered":"https:\/\/wncen.com\/?p=459648"},"modified":"2024-06-11T14:14:19","modified_gmt":"2024-06-11T14:14:19","slug":"coinbase-btc-outflows-bitcoin-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/coinbase-btc-outflows-bitcoin-price\/","title":{"rendered":"Massive Coinbase Outflows Suggest Bitcoin Price Is Ready To Bounce"},"content":{"rendered":"<p><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-retail-investors-confident-about-50000-price-bottom\/\">Bitcoin price<\/a> is reeling from a strong rejection from above $60,000 that has sent the leading cryptocurrency by market cap tumbling back down by more than $10,000 per coin. However, massive ongoing outflows of BTC continue to leave popular cryptocurrency exchange Coinbase Pro at an alarming rate.<\/p>\n<p>The overall lack of BTC supply that only shrinks further by the day, will once again be dominated by demand, potentially causing the previously trending cryptocurrency to bounce. Could that bounce develop into a resumption of the historic uptrend? Here&#8217;s what fundamentals are saying about further continuation or correction for Bitcoin price ahead.<\/p>\n<h2>Coinbase BTC Outflows Continue, What Corporations Are Potentially Buying The Dip?<\/h2>\n<p><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-retail-investors-confident-about-50000-price-bottom\/\">Bitcoin price is down more than $10,000<\/a> from its current all-time high, yet still more than double the previous peak set back in 2017.<\/p>\n<p>The leading cryptocurrency has now spent more than 100 days above the former high, and likely will never return to levels near or below it.<\/p>\n<p><strong><em>Related Reading | <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-btc-reserves-stablecoin-supply\/\">Stablecoin Supply Rising, Diminishing Bitcoin Reserves Ready To Fuel Next Leg Up<\/a><\/em><\/strong><\/p>\n<p>In fact, Bitcoin price action might not deviate much lower than current levels, thanks to <a href=\"https:\/\/wncen.com\/analysis\/btc\/coinbase-bitcoin-outflows-bullish\/\">massive Coinbase Pro outflows<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I think y&#39;all know what massive outflows from Coinbase Pro usually means.<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/t.co\/QS3LK39WZW\" rel=\"nofollow\">pic.twitter.com\/QS3LK39WZW<\/a><\/p>\n<p>&mdash; Joseph Young (@iamjosephyoung) <a href=\"https:\/\/twitter.com\/iamjosephyoung\/status\/58546432?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 26, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Thousands of BTC leaving the popular cryptocurrency exchange catering to institutional investors has been called t<a href=\"https:\/\/wncen.com\/analysis\/btc\/coinbase-bitcoin-outflows-bullish\/\">he most bullish signal &#8220;ever&#8221;<\/a> and that was hundreds of thousands of BTC ago.<\/p>\n<p>Technical factors are overheated in the cryptocurrency after such a sizable price increase, but soon, <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-btc-reserves-stablecoin-supply\/\">fundamentals could take over<\/a> leading to a strong bounce.<\/p>\n<h2>Bitcoin Price To Bounce As Supply Shock Expected To Overpower Bearish Technicals<\/h2>\n<p>Thus far, the presence of institutions and corporations with deep wallets and cash reserves with dwindling buying power has left <a href=\"https:\/\/wncen.com\/analysis\/btc\/coinbase-bitcoin-outflows-bullish\/\">very little room for corrections<\/a>.<\/p>\n<p>Dips are being bought up long before retracements reach to past bull market totals, but that doesn&#8217;t mean <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-momentum-lmacd-btc\/\">momentum can&#8217;t finally turn down<\/a> for even a brief time.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-459680 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/bitcoin-coinbase-corproations.png?resize=860%2C399\" alt=\"bitcoin coinbase corproations\" width=\"860\" height=\"399\"><\/p>\n<pre style=\"text-align: center\">Institutions and corporations buying each dip is preventing any serious corrections | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>But eventually, <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-momentum-lmacd-btc\/\">regardless of any technical factors<\/a>, no BTC left to buy could cause a supply shock that drives prices to hundreds of thousands of dollars per coin before demand begins to wane again, and available supply returns to exchanges for investors to take profit.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/analysis\/btc\/coinbase-bitcoin-outflows-bullish\/\">Coinbase Bitcoin Outflows Are The Strongest Bullish Signal \u201cEver\u201d<\/a><\/strong><\/em><\/p>\n<p>At that point, the top will be in. For now, the <a href=\"https:\/\/wncen.com\/analysis\/btc\/coinbase-bitcoin-outflows-bullish\/\">ongoing massive outflows<\/a> suggest the top is nowhere near in sight, and that bigger players are currently buying the blood in the streets.<\/p>\n<p>The line in the sand drawn between bears and bulls moving higher lies at $60,000. Another move beyond that level could be an all-clear sign that the rally is ready to continue higher.<\/p>\n<pre>Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is reeling from a strong rejection from above $60,000 that has sent the leading cryptocurrency by market cap tumbling back down by more than $10,000 per coin. However, massive ongoing outflows of BTC continue to leave popular cryptocurrency exchange Coinbase Pro at an alarming rate. The overall lack of BTC supply that only shrinks further by the day, will once again be dominated by demand, potentially causing the previously trending cryptocurrency to bounce. Could that bounce develop into a resumption of the historic uptrend? Here&#8217;s what fundamentals are saying about further continuation or correction for Bitcoin price ahead. Coinbase BTC Outflows Continue, What Corporations Are Potentially Buying The Dip? Bitcoin price is down more than $10,000 from its current all-time high, yet still more than double the previous peak set back in 2017. The leading cryptocurrency has now spent more than 100 days above the former high, and likely will never return to levels near or below it. Related Reading | Stablecoin Supply Rising, Diminishing Bitcoin Reserves Ready To Fuel Next Leg Up In fact, Bitcoin price action might not deviate much lower than current levels, thanks to massive Coinbase Pro outflows. I think y&#39;all know what massive outflows from Coinbase Pro usually means.$BTC pic.twitter.com\/QS3LK39WZW &mdash; Joseph Young (@iamjosephyoung) March 26, 2021 Thousands of BTC leaving the popular cryptocurrency exchange catering to institutional investors has been called the most bullish signal &#8220;ever&#8221; and that was hundreds of thousands of BTC ago. Technical factors are overheated in the cryptocurrency after such a sizable price increase, but soon, fundamentals could take over leading to a strong bounce. Bitcoin Price To Bounce As Supply Shock Expected To Overpower Bearish Technicals Thus far, the presence of institutions and corporations with deep wallets and cash reserves with dwindling buying power has left very little room for corrections. Dips are being bought up long before retracements reach to past bull market totals, but that doesn&#8217;t mean momentum can&#8217;t finally turn down for even a brief time. Institutions and corporations buying each dip is preventing any serious corrections | Source: BTCUSD on TradingView.com But eventually, regardless of any technical factors, no BTC left to buy could cause a supply shock that drives prices to hundreds of thousands of dollars per coin before demand begins to wane again, and available supply returns to exchanges for investors to take profit. Related Reading | Coinbase Bitcoin Outflows Are The Strongest Bullish Signal \u201cEver\u201d At that point, the top will be in. For now, the ongoing massive outflows suggest the top is nowhere near in sight, and that bigger players are currently buying the blood in the streets. The line in the sand drawn between bears and bulls moving higher lies at $60,000. Another move beyond that level could be an all-clear sign that the rally is ready to continue higher. Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":459660,"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":[428,1119,1144,78790,1393,6664,4524,76835],"class_list":["post-459648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-coinbase","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Massive Coinbase Outflows Suggest Bitcoin Price Is Ready To Bounce<\/title>\n<meta name=\"description\" content=\"Bitcoin price is reeling from a strong rejection from above $60,000 that has sent the leading cryptocurrency by market cap tumbling back down by more than\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/coinbase-btc-outflows-bitcoin-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Massive Coinbase Outflows Suggest Bitcoin Price Is Ready To Bounce\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price is reeling from a strong rejection from above $60,000 that has sent the leading cryptocurrency by market cap tumbling back down by more than\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/coinbase-btc-outflows-bitcoin-price\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-26T20:00:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T14:14:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/niagara-falls-218591_1920.jpeg?fit=1920%2C1440\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&quot; 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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. 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