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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.
Blockchain data reveals institutions absorbing Bitcoin at unprecedented rates, setting bullish market expectations.
Block joins the index along with Tesla and Coinbase, with a 0.09% weight and 8,584 BTC in reported holdings.
Coinbase is a publicly listed digital asset platform that operates one of the largest regulated crypto exchanges in the United States.
