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Bitcoin traders often treat old-coin movement as a sign that long-term holders are waking up. Coinbase’s $69.5 billion BTC migration suggests that signal may be less reliable than it looks.
The value of the company's stock remains largely unchanged.
Despite the ongoing regulatory pressure on U.S. exchanges, their offshore competitors saw much higher Bitcoin outflows in the past month.
Coinbase is a publicly listed digital asset platform that operates one of the largest regulated crypto exchanges in the United States.
