A post by @whale_alert on X.

A single transfer of 1,694 BTC worth roughly $128.4 million moved from the Kraken exchange to an unidentified wallet, according to Whale Alert. The transaction stands out for its size, representing a nine-figure sum leaving a major centralized venue in one move. Large exchange outflows are often read as a sign that holders intend to custody coins privately rather than sell, though a single transfer is not conclusive. With no destination label attached, it remains unclear whether the wallet belongs to an institution, a custodian, or a long-term holder. Traders will watch whether follow-up transfers to the same address continue and whether spot BTC prices and exchange reserves react to the withdrawal.