Bitcoin whales have moved over 10,000 BTC (worth more than $770 million USD) within the past 24 hours, according to transaction data from Whale Alert.
A series of large transfers were directed toward Coinbase Institutional and Cumberland, signaling a notable rise in institutional activity.
At least 8 separate transfers ranging from 460 to 465 BTC each, totaling more than 3,700 BTC (~$410M), were sent from unknown wallets to Coinbase Institutional. Additionally, a 765 BTC withdrawal was spotted moving from Coinbase to a new unknown wallet.
Meanwhile, Cumberland, a major crypto trading firm, received multiple incoming transfers, including:
- 1,113 BTC (~$120.9M) from an unknown wallet
- 1,021 BTC (~$112.1M) from another unknown wallet
- 984 BTC (~$108M) sent from Cumberland to Coinbase Institutional, possibly indicating internal reshuffling or liquidity provisioning.
One notable transaction also involved 599 BTC (~$65.5M) sent to Binance, further suggesting strategic positioning across multiple exchanges.
These high-value moves typically hint at institutional rebalancing, OTC activity, or preparation for large-scale market participation. While such flows can precede volatility, they also underline the growing involvement of professional entities in Bitcoin’s ecosystem.
Source
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/over-770m-in-bitcoin-moved-to-coinbase-and-cumberland-as-institutional-activity-surges/