$760M Worth Of Bitcoin Transferred From Coinbase Ahead Of IPO, Report Shows

Bitcoin (CRYPTO: BTC) has been fluctuating around the $60,000 levels slowly but steadily approaching its all-time high price after breaking through $60,000 again earlier today.

What Happened: Bitcoin’s price increased by nearly 22% from its 24-hours low of $50,278 to a high of $61,199 before correcting to just over $60,000.

The price movement took place as crypto asset exchanges see a massive outflow of Bitcoin, meaning that whoever owns it does not expect to sell it soon.

Data retrieved from cryptocurrency market data service CryptoQuant earlier today shows that 12,677 BTC worth $770 million left Coinbase Pro yesterday alone.

What Else: Data reported by the Block shows that the aggregated interest open of Bitcoin futures has reached $24.73 billion earlier today, showing unprecedented market participation.

The news follows yesterday’s reports of Bitcoin seeing a price increase due to a supply shortage.

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