# Big Withdrawal of 30k BTC from Coinbase Leads to Decreased Investor Interest in Bitcoin
**Bitcoin (BTC) might be on a downward trend below $40,000, but recent data indicates that major investors are still actively engaged in the market.**
According to Ki Young Ju, the CEO of CryptoQuant, an on-chain analytics platform, institutional purchases of BTC could once again become a significant factor in the cryptocurrency space.
## Significant BTC Movements on Coinbase Pro
Ki Young Ju pointed out data from Coinbase Pro, the professional trading platform of the US-based exchange Coinbase, which shows significant amounts of BTC leaving their platform.
In a single day this week, a total of 30,000 BTC was withdrawn from Coinbase. This is not an isolated incident, as similar large withdrawals were also observed in March.
Ki Young Ju noted,
“Institutional buys might be the big narrative again because the Executive Order did not create any hurdle.”
Despite the US executive order from last month aimed at exploring various aspects of the crypto ecosystem, it seems to have not deterred large investors seeking exposure to cryptocurrencies.
This trend is observed across various exchanges, as reported by Cointelegraph recently, with April showing similar outflows as in March.
While the supply of Bitcoin is decreasing, there are still concerns in the broader economic landscape that continue to affect risk assets, including cryptocurrencies.
Bitcoin’s correlation with traditional assets, which are influenced by central bank policies, needs to shift in order for the market conditions to improve. However, analysts anticipate a challenging transition when this correlation eventually breaks.
## Terra Sustains Buying Pressure
On the other hand, the noteworthy investment news of the year is the ongoing buying spree by Blockchain protocol Terra. The Luna Foundation Guard (LFG), a nonprofit organization associated with Terra, has acquired approximately 2,633 BTC ($105.3 million) in the past 48 hours.
According to BitInfoCharts, the LFG wallet now ranks as the 18th largest Bitcoin wallet, holding more BTC than Tesla’s corporate treasury allocation.
### Disclaimer
The opinions expressed in this article are the author’s own and do not necessarily reflect those of Cointelegraph.com. Every investment decision involves risks, so it’s important to conduct thorough research before making any financial decisions.
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