A post by @whale_alert on X.

A single transfer of 1,145 BTC, valued at approximately $88.73 million, moved from Coinbase Institutional to an unknown new wallet, according to Whale Alert. The transaction, flagged on X, marks a notable outflow from a major institutional custody and trading venue to a previously unseen address. The destination wallet's lack of prior activity makes the transfer's purpose—whether custody reshuffling, OTC settlement, or a new holder's accumulation—unclear. Large exchange outflows can signal reduced near-term selling pressure, though a single transfer is insufficient to establish a trend. Market participants will watch whether the receiving wallet moves the coins onward to another exchange or holds them, and whether similar institutional outflows follow.