Source: Cointelegraph
Original: “Coinbase Records $1 Billion Outflow of Bitcoin (BTC) in a Single Day, Analysts Warn of Supply Shock”
Institutional demand for Bitcoin (BTC) is on the rise, as Coinbase, the world's third-largest cryptocurrency exchange, recorded its highest daily outflow of Bitcoin this year.
On May 13, over $1 billion worth of 9,739 Bitcoins were withdrawn from Coinbase—this was revealed by André Dragosch, Head of European Research at Bitwise, marking the highest net outflow recorded in 2025.
“Interest in Bitcoin from institutions is accelerating,” Dragosch added in a post on X on May 13.
This outflow occurred as Bitcoin's trading price surpassed $103,600, just days after the White House announced a 90-day mutual tariff suspension between the U.S. and China, a move that alleviated market concerns and boosted broader investor sentiment.
Aurelie Barthere, Chief Research Analyst at Nansen, told Cointelegraph that the 90-day tariff pause eliminated the risk of a “sudden re-escalation,” which could help Bitcoin, other cryptocurrencies, and the broader stock market rise due to improved risk appetite.
The growing demand from institutional investors and corporations may lead to a decrease in Bitcoin supply on exchanges, signaling a potential price increase driven by a “supply shock,” where the appreciation occurs when buyer demand meets a reduction in available BTC.
While Bitcoin may experience short-term pullbacks, Dragosch remains “very bullish” for the remainder of 2025, as he stated to Cointelegraph on the Chain Reaction daily X show on May 12.
“Just in 2025, the amount of Bitcoin purchased by corporations is four times the total of all U.S. spot Bitcoin ETFs, which is insane,” he said. “We are nearing 200,000 Bitcoins, which is equivalent to the annual new supply of Bitcoin.”
Despite the bullish backdrop, Dragosch noted that the crypto market may still experience short-term pullbacks due to what he describes as overheated investor sentiment.
Meanwhile, according to Glassnode data, Bitcoin's “illiquid supply” has reached a record 14 million BTC, indicating that large investors continue to accumulate.
Related: Analysis: Why Bitcoin (BTC) Price Dropped After Trump Announced U.S.-China Tariff Agreement
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