Major Move on Coinbase: Exchange Sees Third-Largest Bitcoin Withdrawal in a Year with $1.1 Billion Transferred in a Day

n a significant move, Coinbase observed one of its largest Bitcoin withdrawals to date.

On March 28, Coinbase exchange saw a substantial withdrawal of around 16,100 BTC, equivalent to $1.1 billion. According to data provided by Arkham Intelligence, this notable outflow occurred in two separate transactions. The first transaction involved approximately 8,100 BTC, valued at around $574 million, while the second transaction comprised 8,000 BTC, totaling approximately $566 million.

This withdrawal ranks as the third-largest from Coinbase over the past year, as reported by Glassnode. Interestingly, all three of these substantial outflows occurred in March. Additionally, leading exchanges such as Binance and Gemini also witnessed significant withdrawals during this period. These notable movements coincide with Bitcoin’s price consolidation around the $70,000 mark, hinting at potential shifts in investor sentiment or strategic maneuvers within the digital asset market.

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