Today 3,149 BTC, equivalent to $128 million, were withdrawn from the U.S. cryptocurrency exchange Coinbase to an unknown wallet.
According to blockchain data provider Glassnode, the number of bitcoins stored on Coinbase dropped by 3,755,000. This corresponds to a drop of nearly 36.6% from the all-time high of April 2020.
As of this writing, BTC is back in the $39,000 range, trading at $39,250, but the withdrawal of coins from trading platforms does not portend a massive sell-off.
Most likely, bitcoin kits continue to capitalize on price manipulation, keeping the major cryptocurrency fluctuating between $38,000 and $4,000.