A post by @whale_alert on X.

A wallet labeled as belonging to Coinbase Institutional moved 1,140 BTC, valued at roughly $85.26 million, to a newly created unknown address, according to Whale Alert. The transfer represents a single large on-chain movement from a major institutional custody platform rather than an exchange-wide outflow. Because the destination wallet has no prior history, the transaction’s purpose—internal reshuffling, OTC settlement, or a new client allocation—remains unclear. Large transfers from institutional custodians are closely watched as a signal of how major holders are positioning bitcoin. Traders will monitor whether the new wallet continues to accumulate or later sends the coins to an exchange, which would suggest selling intent.