Bitcoin and ether both fell on Wednesday after a report showed UK inflation in September hit a 40-year high.
More than 37,000 BTC worth $710 million left Coinbase on Tuesday, the biggest single-day outflow since June 17. In the past, Coinbase has brokered institutional bitcoin investments.That said, on-chain data has its limitations and drawing definite conclusions is difficult. The bitcoin net exchange flows metric doesn’t adjust for internal reshuffling of coins into new wallets by an exchange.
BTC lost ground on Wednesday, trading down 2%, as U.S. stock futures inched up ahead of earnings reports from major companies. The British pound fell after the release of a report that showed U.K. inflation in September rose faster than what economists had expected and hit a new 40-year high.
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