On May 13, 2025, Coinbase, one of the leading cryptocurrency exchanges in the world, recorded an outflow of 9,739 Bitcoin, with a total value exceeding 1 billion dollars.
This is the highest net outflow of Bitcoin recorded during the year, according to André Dragosch, head of European research at Bitwise.
This massive movement of funds signals a growing interest from institutional investors and large companies towards Bitcoin, in a market context that seems increasingly oriented towards a consolidation of the cryptocurrency as a strategic asset.
Record outflows from Coinbase for Bitcoin: signs of a market shift
According to Dragosch, the institutional appetite for Bitcoin is rapidly growing. In a post published on May 13 on platform X, the analyst highlighted how the pace of purchases by companies is far exceeding that of U.S. spot ETFs:
“Only in 2025, companies purchased four times more Bitcoin compared to all the spot Bitcoin ETFs in the United States combined. We are already close to 200,000 Bitcoin, which is equivalent to the annual supply of new BTC.”
These data suggest that companies are accumulating Bitcoin at a pace never seen before, contributing to reducing the availability of BTC on exchange and potentially setting the stage for a supply shock.
The record outflow from Coinbase occurred at a time when Bitcoin was trading above 103,600 dollars, a few days after the White House announcement regarding a 90-day reduction of reciprocal tariffs between the United States and China.
This development has had a positive impact on investor sentiment, contributing to strengthening confidence in the financial markets and, by reflection, also in the cryptocurrency sector.
The joint statement between Washington and Beijing, made public following a meeting in Geneva, has helped ease trade tensions and improve global economic prospects.
Thus creating a favorable environment for high-yield investments like Bitcoin.
Even Aurelie Barthere, the principal analyst at Nansen, confirmed to Cointelegraph that the growing demand from institutional investors and companies could lead to a significant decrease in the supply of Bitcoin available on exchanges.
This phenomenon, known as supply shock, occurs when demand exceeds the available supply, pushing prices upward.
On May 13, the illiquid supply of Bitcoin — that is, the amount of BTC held in wallets that historically do not sell — reached a new all-time high of 14 million BTC.
This data indicates that the large investors are continuing to accumulate, further reducing the amount of Bitcoin in circulation and increasing the bull pressure on the price.
Outlook for 2025: optimism with caution
Despite the strong bull trend, Dragosch warned that the market could still experience short-term corrections due to an overheated sentiment among investors.
However, the analyst stated they are “very optimistic” for the rest of 2025, emphasizing that the market fundamentals remain solid.
The growing interest from companies and institutions, combined with a reduction in the available supply, could create the conditions for a new phase of sustained growth in the price of Bitcoin.
However, as always in the world of cryptocurrencies, volatility remains a factor to consider.
The recent outflow from Coinbase represents a clear signal: the cryptocurrency market is entering a new phase, in which institutional actors play an increasingly central role.
The adoption of Bitcoin by large companies and investment funds is no longer a hypothesis, but a reality that is profoundly changing the balance between demand and supply.
With an increasingly limited supply and a constantly rising demand, the risk of a supply shock becomes more and more concrete.
In this scenario, Bitcoin could see a further price appreciation, consolidating its role as a store of value and strategic investment tool on a global level.
Conclusion: a crucial moment for Bitcoin
The withdrawal of over 1 billion dollars in Bitcoin from Coinbase in a single day is not an isolated event, but part of a broader trend that sees financial institutions and companies positioning themselves more aggressively in the cryptocurrency market.
With a decreasing supply and increasing demand, 2025 could be a decisive year for the future of Bitcoin.
The analysts agree: although short-term fluctuations are possible, market fundamentals indicate a clear direction. Bitcoin continues to gain ground as a reference asset, and the recent outflow from Coinbase is the most evident proof of this.
