A post by @whale_alert on X.

A wallet labeled as unknown received 1,290 BTC, valued at roughly $98.58 million, from Coinbase Institutional in a single transfer flagged by Whale Alert. The move ranks among the larger exchange outflows tracked by the on-chain monitoring account and shifts a nine-figure sum out of a venue used primarily by institutional clients. Because the destination wallet is unidentified, the transaction could reflect a custody reshuffle, an over-the-counter settlement, or a long-term holder moving coins to cold storage rather than fresh buying. Watch subsequent activity from the receiving address and whether Coinbase Institutional sees offsetting inflows, which would clarify if the withdrawal signals sustained accumulation or a one-off reallocation.