$223 million worth of Bitcoin moved from Coinbase to cold storage

On Saturday, two anonymous users moved a total of 4,509 bitcoins, worth approximately $223 million to cold storage from the cryptocurrency exchange Coinbase.

In the past week alone, Coinbase has seen more than $1 billion worth of Bitcoin withdrawn to private wallets, while other exchanges report similar withdrawals.

Such moves by Bitcoin Whales generally signal an upcoming price drop or increase. In this case, it signifies the high demand for the cryptocurrency, and could be a foreshadowing of a massive upward spike in the near future.

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