Institutional interest in bitcoin has surged since Donald Trump’s victory in the U.S. presidential election last November, pushing the cryptocurrency closer to major milestones.

Bitcoin (BTC), the largest digital asset by market capitalization, is eyeing the $100,000 price mark and a $2 trillion market cap. If it manages to break through these thresholds, the future for bitcoin could be promising.

Since Trump’s win, bitcoin has gained over $30,000, with a noticeable increase in the amount of BTC being withdrawn from exchanges. According to Glassnode data, large bitcoin transactions exceeding $10 million are leaving exchanges at a fast pace, indicating a surge in institutional buying. A significant portion of these transactions has been traced back to Coinbase, contributing to the recent Coinbase premium.

As of yesterday, approximately 12,500 BTC, worth around $1.3 billion, were withdrawn from exchanges, with half of that amount coming from Coinbase, Glassnode reported.

In total, roughly 200,000 BTC have exited exchanges since the election, leaving just 2.8 million BTC remaining on exchanges — the lowest amount seen in the past seven years.