Efe Nail Saltık 
Since the beginning of the year, there have been Bitcoin outflows on the Coinbase exchange. While over 3 thousand outflows have become customary, an unexpected development has occurred recently.
Increase in Bitcoin Outflows from Coinbase
A record was broken in Bitcoin outflows from Coinbase. Over the past few days, more than 18,000 Bitcoins have exited the exchange, drawing the attention of investors.
First of all, it came to mind that companies offering ETF services buy the Bitcoin required for Bitcoin ETFs on Coinbase. While the fact that this is actually a normal situation did not find any response from investors, such a high number of Bitcoin outflows raised questions.
It is thought that such a high-volume purchase could be a company purchase. Such large purchases are often seen in company purchases, and this latest outflow is similar to data seen in the previous bull market.
In the past bull market, this data, which coincided with BTC purchases by large companies such as Tesla and Microstrategy, was perceived as a harbinger of the bull.
We are currently in a period where companies may have started buying again, and we may need to wait until April to understand the net metric of this data. Because companies’ quarterly reports, balance sheet figures will tell us how much BTC purchases are realized by companies.