• Bitcoin briefly dropped below $100K before rebounding to $101,496, marking volatility post-FOMC announcement.
• Coinbase sees $1.1 billion Bitcoin outflow, signaling strong institutional demand and ETF-driven accumulation.

Bitcoin [BTC] has experienced significant major price fluctuations in the past day, primarily influenced by the Federal Open Market Committee (FOMC) meeting outcomes and Federal Reserve Chair Jerome Powell’s speech. 

The asset saw a steep decline, falling to as low as $98,000—a drop of over 5% in just a day. However, the cryptocurrency appears to have quickly rebounded, reclaiming the $100,000 mark and briefly reaching a high of $105,000 earlier today.

At the time of writing, Bitcoin was trading at $101,496, reflecting a 2.6% decrease over the past day and a 6.1% drop from its all-time high (ATH).

This dramatic price movement highlights Bitcoin’s continued volatility, but it also highlights the resilience of investor sentiment. Analysts seem to have been closely monitoring these fluctuations, with attention turning to institutional activity and its impact on market trends.

A new report from CryptoQuant analyst Burak Kesmeci sheds light on a significant development in Bitcoin’s market dynamics.

Massive Coinbase outflow signals institutional interest

According to Kesmeci, a record-breaking Bitcoin outflow was observed on Coinbase during the FOMC announcement. Within just one hour, approximately 10,756 BTC, valued at $1.1 billion, were withdrawn from the exchange. 

The transaction occurred in two major blocks: one involving 8,093 BTC and the other 2,557 BTC. This substantial outflow strongly suggests Go to Source to See Full Article
Author: Samuel Edyme

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