A post by @whale_alert on X.

Whale Alert reported a transfer of 1,358 BTC, valued at roughly $101.9 million, from Coinbase Institutional to an unidentified wallet. The move ranks among the larger single on-chain transfers tracked by the service and shifts a nine-figure sum out of a major custodial and exchange venue. Because the destination wallet is unlabeled, the transaction’s intent—cold storage, OTC settlement, or a new institutional holder—remains unclear. Traders typically watch such exchange outflows as a signal of reduced near-term sell-side supply, though a single transfer is not conclusive. What to watch next is whether the receiving address is linked to a known custodian or fund, and whether similar Coinbase Institutional outflows follow.