A post by @whale_alert on X.

Whale Alert reported a transfer of 1,462 BTC, valued at roughly $111.0 million, from Coinbase Institutional to a previously unknown new wallet. The move ranks among the larger single on-chain transfers tracked by the alert service and shifts a nine-figure bitcoin balance out of a major institutional custody venue. Because the destination wallet has no prior history, the transaction’s intent—cold storage, a new custodian, or an over-the-counter settlement—remains unclear. Traders often watch exchange-to-unknown-wallet flows as a signal of reduced near-term sell-side supply, though a single transfer is not conclusive. What to watch next is whether the new address consolidates further inflows or sends the coins onward to another exchange.