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699 BTC Moved Off Coinbase — Monitor for Whale Activity
I noticed a large transfer of 699 BTC (≈$83.13M) moved from Coinbase to an unknown address.
This outflow could be a whale withdrawing to cold storage, an OTC transfer, or a precursor to selling; the intent is unclear on-chain. I'm watching exchange reserves and subsequent wallet activity for confirmation before taking a view.
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Analysis
A 699 BTC outflow reduces on-exchange supply, which can be bullish if those coins stay cold, but it can also be a step in an off-exchange sell. Watch exchange netflows, labels for the receiving wallet...
Recommendation
Watch the situation — don’t trade solely on this transfer. Monitor exchange balances, on-chain movements, and price reaction; consider acting on confirmed signs (e.g., sustained outflows or concentrat...
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.