Record 9,739 BTC Transferred from Coinbase as Institutional Demand for Bitcoin Soars

In a recent update by COINOTAG News, dated May 13th, it was reported that **9,739 BTC** were withdrawn from **Coinbase**, representing the **largest net outflow** in 2023. This significant movement of Bitcoin indicates rising **institutional demand**, showcasing a greater interest in digital assets among larger investors. The trend reflects a growing confidence in Bitcoin as a reliable asset class, as institutions increasingly diversify their portfolios to include cryptocurrencies. This surge in outflows could signal a shift in market dynamics, as institutional players position themselves to capitalize on potential price movements in the months ahead. As the cryptocurrency market evolves, trends like these may provide insight into investor sentiment and future market strategies.