Blockchain analytics platform Whale Alert has flagged two substantial Bitcoin transactions involving Coinbase, the largest U.S. cryptocurrency exchange by trading volume. These high-value moves come amid a slight downturn in Bitcoin prices, sparking speculation about renewed whale activity.
The first transaction, reported by Whale Alert, saw 619 BTC—valued at approximately $68.1 million—transferred to Coinbase Institutional, the arm of the exchange that handles high-volume clients and institutional investors.
Shortly after, a significantly larger transaction caught attention: a staggering 8,022 BTC, worth nearly $879 million at the time of transfer, was withdrawn from Coinbase to an unidentified digital wallet. According to Whale Alert, this massive movement was divided into several dozen smaller transfers, each averaging around 200 BTC, all funneling into a single destination wallet.
These developments arrive as Bitcoin trades just below the $110,000 threshold, now hovering around $109,590 per coin. The increased on-chain activity, particularly involving major exchanges and anonymous wallets, suggests heightened positioning by large holders in response to the shifting market.
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