Over $467,000,000 worth of BTC leaves crypto exchange Coinbase

According to Coinglass, Coinbase Pro users collectively withdrew 9,951 BTC worth $467.28 million in the last week alone as Bitcoin continues to struggle below the $50,000 level.

Coinglass reveals that the Bitcoin balances on all exchanges metric continues to be in a downtrend. Crypto exchanges currently hold 1.76 million BTC, down nearly 17% from its February 2021 balance of 2.1 million Bitcoin.