About 1,770 Bitcoin moved from a Kobo custodial wallet to an exchange
Original headline코보 수탁 지갑서 비트코인 약 1770개 거래소로 이동
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Roughly 1,770 BTC moved out of Cobo-linked custody wallets to exchanges, according to on-chain analyst Mignolet, who cited ForeDex's "Institutional Custody Outflow" chart in an X post on August 11. Mignolet said the flows point to large-scale selling by institutions using Cobo custody, with sell pressure at its highest since August 10, 2025, and noted weakening overall market buying liquidity and thin OTC demand. The outflows matter because exchange-bound coins from institutional custodians are typically read as a precursor to selling rather than accumulation. Traders will watch whether the BTC actually hits order books and whether spot and OTC demand can absorb the supply without further price pressure.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
Cobo, Bitcoin (BTC), Mignolet, ForeDex, BlockMedia
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