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Bitcoinholdings on Coinbase crypto exchange have fallen to their lowest level in nine years as users move a significant chunk of their holdings off the exchange.

According to a report from CryptoQuant, whales moved 18,000 Bitcoin (BTC) worth nearly $1 billion off Coinbase over the weekend, with transfer values ranging from $45 million to $171 million. Coinbases public order book now holds around 394,000 BTC, which is estimated to be worth $20.5 billion.

Whales moving their BTC holdings away from centralized exchanges is considered a bullish sign as less Bitcoin is available for sale. However, users on social media are divided over the nature of the transfers. Some believe the funds are being moved to custodial wallets in anticipation of a price surge, with the upcoming Bitcoin halving, just two months away, creating a supply shock. While a few others believe that the moved funds could be used for liquidity for over-the-counter (OTC) trades.

Others suggested that the funds could be going to a different custodian and that they arent individual withdrawals, as most of whats in these exchanges doesnt belong to them anyways, so this number should be a lot lower.

With every Bitcoin halving cycle, the amount of new BTC entering the market is reduced by half, creating a supply crunch as demand grows. The next BTC halving will happen in April at a block height of 740,000. The block reward for each block mined by miners will be reduced from 6.25 BTC to 3.125 BTC. The upcoming halving also comes amid massive institutional demand, with 11 spot Bitcoin exchange-traded funds (ETFs) approved in the United States in January.

Related: Grayscales GBTC outflows reach $7B, but data shows its slowing

Currently, around 900 BTC is mined daily, while Bitcoin ETFs daily net inflows are about half a billion dollars or about 9,650 BTC despite Grayscale registering nearly $100 million in daily outflows.

Post-April halving, the daily amount of BTC produced will be reduced to about 450 BTC, with institutional demand continuing to rise. This massive supply-demand gap has historically proven bullish for the Bitcoin price, with new all-time highs coming within a year of the halving.

Bitcoin is trading at around $52,000, its highest level since December 2021, down 25% from its all-time high of around $69,000.

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Bitcoin holdings on Coinbase reach lowest level since 2015 as whales withdraw $1B BTC - Cointelegraph

A widely followed crypto analyst believes that Bitcoin (BTC) is topping out, but Ethereum (ETH) and other altcoins are about to take off.

Michal van de Poppe tells his 694,300 followers on the social media platform X that he is expecting decentralized finance (DeFi) protocols and decentralized physical infrastructure (DePIN) technology projects to start to outperform Bitcoin.

DePIN projects involve the use of crypto assets and blockchain technology to incentivize the building of real-world infrastructure.

Says Van de Poppe,

Strong weekly candle on ETH/BTC. It seems very likely that the rotation has started.

DeFi/DePin going to outperform significantly. Bitcoin close to peaking out. Other ecosystems starting to do well.

ETH/BTC is trading for 0.05700 BTC ($2,953) at time of writing, up more than 3% in the past 24 hours.

He predicts that Bitcoin may increase to as high as $58,000 before there is a market correction.

Bitcoin consolidating at $52,000 with the total market capitalization at $1.9 trillion. The upside looks relatively capped for Bitcoin. My overall thesis is a continuation to $54,000-$58,000 and then consolidation and broader correction.

He also thinks that Bitcoin will follow a historic price pattern and significantly exceed its current value in two years.

Its the April 2016 of Bitcoins cycle to the peak in December 2017. Its the March 2020 of Bitcoins cycle to the peak in November 2021. Bitcoin is valued at $51,000, but this will be significantly higher in two years time. Accumulate as much as possible.

Bitcoin is trading for $51,835 at time of writing, up nearly 4% in the past seven days.

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Trader Says DeFi and Another Crypto Sector Are Going To Significantly Outperform, Updates Outlook on Bitcoin - The Daily Hodl

Investors have plowed billions of dollars into spot bitcoin ETFs since they launched last month and so far, its paying off.

Altogether, the suite of new bitcoin-backed funds (not counting Grayscale Bitcoin Trust) have attracted $11.4 billion in capital inflows in the past five weeks.

Their respective issuers, a set of 10 led by BlackRock, Fidelity, Ark, 21Shares and Bitwise, have then used that cash to buy bitcoin on behalf of ETF shareholders.

They do so through crypto exchanges, mostly Coinbase and Coinbase Pro, but they also utilize prop trading firms such as the Dutch-founded Flow Traders.

BlackRocks fund, IBIT, is the furthest ahead in terms of actual dollars.

Read more: A month after launch, spot bitcoin ETF weekly net inflows hit new high

Thats mostly due to IBIT having the most assets under management (AUM) 115,991 BTC ($6.04 billion) from $5.17 billion inflows, an appreciation of more than $870 million, or 17%, at current prices.

The chart below plots the differences between net inflows and the current value of bitcoin treasuries for each spot ETF.

Shareholders in Invesco-Galaxys offering, BTCO, are however way further ahead, albeit on a smaller scale.

BTCO has attracted $241.4 million net flows and currently holds 5,970 BTC worth $311 million a difference of almost $70 million, or 29%.

Valkyrie, Fidelity and VanEck funds are also further ahead than BlackRocks, with around 20% gains.

The variations in unrealized gains across the different funds illustrate distinct buying patterns between investor groups.

Plotting BlackRock inflows against bitcoins price, for example, shows investors have kept their IBIT allocations steady over time.

This has essentially led IBIT to dollar-cost average into bitcoin at an even pace, converting to lower unrealized profits compared to Invesco-Galaxys fund BTCO.

BTCO instead saw two-thirds of its total inflows to date across just four days Jan. 16 to 19 as bitcoin floundered between $41,600 and $43,100 after dropping more than 15% in the days following the ETF debuts.

Another surge in inflows occurred two days later, when BTC traded below $40,000 for the first time in more than a month.

Read more: Another bitcoin ETF just joined the $1B assets club. Will it be the last?

Bitcoin is now up by nearly one-third from that point, pushing BTCO, and its shareholders by extension, as far into the green as practically possible.

Some of those investors appear to have taken it one step further by taking profits, making BTCO the only bitcoin ETF, apart from GBTC, to record outflows since launch.

Between Feb. 9 and 14, investors pulled more than 1,500 BTC ($78.1 million) from Invesco-Galaxys fund, equal to around 20% of its treasury at the time. The price of bitcoin rallied from under $45,500 to $50,000 across that period.

WisdomTrees BTCW slightly trails the pack, having attracted the overwhelming majority of its inflows on its first day of trade before bitcoin dipped.

As for Grayscales flagship fund, now an ETF in its own right, it has on average bled nearly 2,400 BTC ($124.9 million) per trading day this month.

All told, the bitcoin pulled from GBTC since Jan. 11 was collectively worth $6.86 billion at the time of those outflows.

That same amount of bitcoin (162,259 BTC) would now fetch $8.44 billion potential gains of 23% left on the table, had that capital not immediately re-entered the market.

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Bitcoin ETFs now $2B up on inflows to date, led by BlackRock - Blockworks

The author of the best-selling personal finance series Rich Dad Poor Dad thinks that Bitcoin (BTC) is just a few months away from hitting a six-figure price tag.

Robert Kiyosaki tells his 2.5 million followers on the social media platform X that hed rather put his faith in hard assets like Bitcoin than blindly follow the Federal Reserve.

Rather than trust the Fed, I prefer to trust gold, silver, and Bitcoin.

Kiyosaki appears to be concerned about the demand for US Treasuries. The Rich Dad Poor Dad author mentions a question raised by Andy Schectman, the president of precious metals investment firm Miles Franklin, on who would be willing to accumulate US bonds considering that the national debt has skyrocketed to a record high of $34.266 trillion.

Andy Schectman asks a very important question: Who is going to buy US bonds?

Banks are buying gold, not US debt. How will America run without money? How will the world operate with money? What will you do without money? Gold is going to crash possibly below $1,200. Silver will take off as will Bitcoin. Take care. Be careful.

Believing that BTC will witness a move to the upside, Kiyosaki shares his target price for the crypto king along with a concrete timeline.

BITCOIN to $100,000 by June 2024.

At time of writing, Bitcoin is trading at $51,748, a slight decrease in the last 24 hours.

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Rich Dad Poor Dad Author Sees Bitcoin Hitting $100,000 in a Few Months, Says He Prefers To Trust BTC Over Fed - The Daily Hodl

Bitcoin mining difficulty, which measures how difficult it is to solve the complex cryptographic puzzles used in the mining process, passed 80 trillion on Friday, Feb. 16.

The networks hash rate, which measures the total computational power used by miners, reached 562.81 exahashes per second (EH/s), and the mining difficulty hit a record 81.73 trillion, according to BTC.com. Bitcoin (BTC) mining difficulty has steadily risen since January 2023 and is expected to reach 100 trillion in the next few months.

In Bitcoins proof-of-work consensus mechanism, a higher difficulty means miners require more computational power and energy to find the correct hash. In the last year, Bitcoins difficulty level has more than doubled.

At its automated readjustment on Feb. 15, Bitcoin mining difficulty was due to increase by an estimated 6%. According to data from monitoring resource BTC.com, if it comes to pass, it will take the difficulty to new all-time highs above 80 trillion for the first time.

Bitcoin stuck to $52,000 at the Feb. 16 Wall Street open as the latest United States macro data exceeded expectations. Data from Cointelegraph Markets Pro and TradingView showed stagnant BTC price action into the weeks last TradFi trading session.

Related: Bitcoin's market structure beneficial to price post-halving

Bitcoins mining rewards will be cut in half in April in whats known as the Bitcoin Halving. To fight inflation, Bitcoins programmers baked the reduction into the tokens structure roughly every four years. The last time Bitcoins mining reward halved was in May 2020.

Bitcoins rewards will decrease from 6.25 BTC to 3.125 BTC during the upcoming halving. This change might result in a lower hash rate, as less efficient miners could find it challenging to cover their costs and take their mining rigs offline. A reduced hash rate is likely to cause a decrease in Bitcoin mining difficulty as the network aims to keep a steady block production every 10 minutes.

According to Galaxy Digital analysts, as much as20% of Bitcoins current hash rate could go offline after the Bitcoin halving and leave only the most efficient mining rigs standing.

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Bitcoin mining difficulty surpasses 80 trillion ahead of halving - Cointelegraph