A post by @whale_alert on X.

A single transfer of 1,200 BTC worth roughly $90.86 million moved from the Bybit exchange to an unidentified wallet, according to Whale Alert. The transaction is notable for its size relative to typical exchange flows, though it represents a small fraction of Bitcoin's daily spot volume. Because the destination wallet is unlabeled, it is unclear whether the coins were moved to cold storage, an over-the-counter desk, or another exchange. Traders often watch large exchange outflows as a signal of reduced near-term sell-side liquidity, but a single transfer carries limited weight on its own. The next thing to watch is whether the receiving address consolidates or moves the coins again, which could clarify whether the withdrawal reflects long-term holding or an internal reshuffle.