• Bitcoin has seen two large outflows from Coinbase in the last week.
• There has been a corresponding spike in the exchange’s premium index.

On the 1st of April, Bitcoin [BTC] recorded its second-largest outflow from leading cryptocurrency exchange Coinbase, CryptoQuant’s data showed.

According to the data provider, on that day, 17,000 BTC worth around $1 billion was removed from the exchange. Earlier, on the 28th of March, outflow from Coinbase totaled 16,800 BTC.

High outflows from Coinbase often indicate large institutional investors moving significant amounts of their BTC holdings.