Bitcoin whales move nearly $500M to Coinbase Prime overnight

Three Bitcoin whales have transferred a combined 6,168 BTC worth approximately $498.5 million to Coinbase Prime at a time when Bitcoin price continues to struggle. Summary Three Bitcoin whales deposited a combined 6,168 BTC worth approximately $498.5 million into Coinbase Prime overnight, according to blockchain analytics firm Lookonchain. Arkham Intelligence reported that another whale transferred 438.37 BTC worth $35.38 million to Coinbase Prime, 16 months after withdrawing 615.4 BTC at an average price of $105,271. The wallet tracked by Arkham still holds approximately 177 BTC worth $14.31 million, while its original Bitcoin position has lost more than $15 million in value. The large transfers occurred as Bitcoin traded near $80,800 following recent price weakness, although neither analytics firm confirmed that the deposited coins had been sold. According to blockchain analytics firm Lookonchain, the three whales deposited the Bitcoin into Coinbase Prime roughly six hours before its October 28 report, with the transactions involving separate wallets and a combined value approaching half a billion dollars. The transfers took place as Bitcoin traded around $80,800, following sever...