In one of the biggest outflows this quarter, 7,625 BTC, or $859 million in dollar equivalent, were moved from Coinbase storage to a brand new wallet. Not only did the transfer catch attention because of its size but also because of how those BTC were divided.
Unlike typical transfers, the coins were bundled into parcels of around 150 BTC each, which is about $16 million, and distributed to 50 new addresses. The only exception was a smaller batch of 121 BTC, which was left unspent.
Because distributions like this are rarely the work of individual users, this looks more like a coordinated storage shift or a structured settlement happening off of the public order book.
Follow-up movements confirmed the pattern. Many outputs were soon flagged as spent, meaning the trail continued across addresses.
Bitcoin whales move like real whales
What makes this transaction notable is not just the number itself but the way it reflects how Bitcoin moves at the top end of the market. Retail withdrawals are more human-like, often noisy and irregular.
Such transfers as today’s from Coinbase, though, show careful sizing, immediate redistribution and the use of brand-new wallets. These are hallmarks of custodians shifting reserves or institutional flows being settled away from the exchange books. The combination of scale and structure here puts this withdrawal among the largest in recent weeks.