Amid mixed price movements across the cryptocurrency market, blockchain analytics platform Whale Alert has detected a significant Bitcoin transfer, fueling speculation among investors. On May 27, the tracker reported that leading U.S.-based exchange Coinbase (NASDAQ: COIN) received a substantial deposit of 1,588 BTC — valued at over $150 million at the time of transfer.
The transfer was executed in two consecutive transactions within an hour, originating from anonymous wallets. The first transaction moved 910 BTC, valued at approximately $100.2 million, while the second involved 678 BTC, worth around $74.7 million.
The movement of such a large volume of Bitcoin into an exchange has prompted renewed concerns over potential sell-offs by major holders, commonly referred to as “whales.” Historically, significant inflows from self-custodial wallets to trading platforms have preceded selling activity by institutions or high-net-worth investors.
Despite these concerns, the motive behind the transactions remains unclear. Market analysts suggest the transfers could also indicate portfolio rebalancing rather than imminent liquidation.
Notably, Bitcoin’s price trajectory has shown resilience. In the hours following the transfers, BTC continued to edge upward, showing no immediate signs of downward pressure. According to data from CoinMarketCap, Bitcoin gained 1.06% over the past 24 hours, trading at $110,194 at press time.
This price marks a modest 1.59% decline from its all-time high of $111,970 reached just five days earlier. The sustained upward momentum is being credited in part to strong inflows into Bitcoin exchange-traded funds (ETFs), reflecting growing institutional demand.
As previously reported by U.Today, spot Bitcoin ETFs recorded a single-day inflow of 7,869 BTC, further highlighting the robust appetite for the leading cryptocurrency.
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