{"id":739,"date":"2021-12-31T09:16:31","date_gmt":"2021-12-31T09:16:31","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=739"},"modified":"2021-12-31T09:16:32","modified_gmt":"2021-12-31T09:16:32","slug":"bitcoin-sees-non-stop-end-of-year-buying-as-10k-btc-leaves-coinbase-in-a-single-day","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=739","title":{"rendered":"Bitcoin sees &#8216;non-stop&#8217; end-of-year buying as 10K BTC leaves Coinbase in a single day"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Almost 10,000 Bitcoin (BTC) left major United States-based exchange Coinbase on Dec. 30 in a sign that investor appetite is returning to the sphere.\u00a0<\/p>\n<p>Data from on-chain monitoring resource Coinglass shows Coinbase\u2019s professional trading arm, Coinbase Pro, shedding 9,925 BTC in the 24 hours to New Year\u2019s Eve.<\/p>\n<h2>Binance adds 66,000 BTC in December<\/h2>\n<p>The buy-in, which runs in contrast to rising or flat balances on other major exchanges, marks a conspicuous short-term trend shift.<\/p>\n<p>The latter half of December has been characterized by platforms such as Binance and OKEx seeing increased inflows of BTC \u2014 something commentators feared could be a forewarning of a sell-off.<\/p>\n<p>While such a mass sale of BTC has not yet occurred, not everyone believes that it will stay that way. <\/p>\n<p>At the same time, the exodus of registered Chinese users from exchange Huobi Global could be triggering a reorganization of funds, a more recent theory suggests.<\/p>\n<p>According to Coinglass, Binance is up 840 BTC as of Friday, while OKEx has seen 767 BTC inflows. Huobi has lost a mere 158 BTC, but in December as a whole, a giant 14,044 BTC has left its books, hinting at the extent of the Chinese user exodus.<\/p>\n<p>On the monthly view, Binance easily wins in terms of inflows, now up over 66,000 BTC versus the end of November.<\/p>\n<p>Nonetheless, it was Coinbase attracting pundits as 2021 drew to a close.<\/p>\n<p>\u201cCoinbase buying has been pretty nonstop today,\u201d popular Twitter trader Ryan Clark summarized.<\/p>\n<p><em>Bitcoin exchange BTC balance summary as of Dec. 31. Source: Coinglass<\/em><\/p>\n<h2>An institutional \u201cflippening\u201d is coming<\/h2>\n<p>Beginning in early January after the holiday period, institutions are meanwhile predicted to reenter the limelight when it comes to BTC ownership.<\/p>\n<p><strong><em>Related: First US Bitcoin ETF a \u2018dud\u2019 in 2021 as GBTC discount stays near record lows<\/em><\/strong><\/p>\n<p>In its end-of-year summary and 2022 forecast report, &#8220;Just Crypto,&#8221; trading firm QCP Capital announced a \u201cflippening\u201d in the investor sphere from retail to institutional.<\/p>\n<p>\u201cIn 2022, the first thing we expect to see is a major flippening of crypto ownership from primarily retail to institutional players, with institutions having a much larger participation,\u201d it stated.<\/p>\n<p>Such an event would see big players unfazed by recent price action, with BTC spot allocations still outperforming assets such as crypto stocks in 2021.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-sees-non-stop-end-of-year-buying-as-10k-btc-leaves-coinbase-in-a-single-day\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Almost 10,000 Bitcoin (BTC) left major United States-based exchange Coinbase on Dec. 30 in a sign that investor appetite is returning to the sphere.\u00a0 Data from on-chain monitoring resource Coinglass shows Coinbase\u2019s professional trading arm, Coinbase Pro, shedding 9,925 BTC in the 24 hours to New Year\u2019s Eve. Binance adds 66,000 BTC in December The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=739"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/739\/revisions"}],"predecessor-version":[{"id":741,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/739\/revisions\/741"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/740"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}