$513,836,820 Bitcoin Mystery Stuns Biggest US Crypto Exchange, Coinbase: Details
Analysis
Price Impact
LowA large transfer of over $500 million in btc from coinbase to an unknown wallet was detected. however, the price of bitcoin did not experience an immediate positive reaction. the transfer is likely an internal exchange operation for rebalancing or rotating cold storage addresses, rather than a new whale withdrawing funds, which mitigates significant market impact.
Trustworthiness
MedThe on-chain transaction report from whale alert is reliable, but the interpretation of the transfer's nature (customer withdrawal vs. internal exchange move) is speculative without further wallet activity. the article leans towards an internal move, which is a common explanation for such events.
Price Direction
NeutralThe article explicitly states that bitcoin's price 'didn't go up after the alert emerged' and noted a slight intraday sell-off before a rebound. given the ambiguity and the likelihood of it being an internal exchange movement, this particular event is not expected to drive a strong bullish or bearish trend.
Time Effect
ShortIf the transfer is indeed an internal operational move by coinbase, its market impact will be negligible and very short-lived, as it doesn't reflect new buying pressure or increased sell-side liquidity from an external entity.
Original Article:
Article Content:
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News A half-billion-dollar Bitcoin transfer just left Coinbase and went into a fresh, unlabeled wallet. This kind of move can be seen in two ways: coins being pulled off an exchange, or an exchange moving inventory between its own addresses. Advertisement It all started with Whale Alert noticing 5,869 BTC worth $513,836,820 moving from Coinbase to an unknown new wallet. The on-chain trail in the screenshots shows a familiar multi-hop route. BTC/USD by TradingView It looks like the money leaves a Coinbase cold wallet, goes through an intermediate address, and then settles in the destination wallet, which now has the full amount. In the same window, that destination also got some extra inbound pieces, including transfers around 152.611 BTC and a smaller 50.87 BTC chunk. HOT Stories XRP Sees Sudden $0 During a $2,279 Million Liquidation Tsunami Morning Crypto Report: -80% for Bitcoin Is Real: Legendary Trader, XRP Re-Flips 'New Cardano,' Shiba Inu (SHIB) on the Verge of 'Black Friday' VanEck: Bitcoin Miner Capitulation May Signal Bottom Crypto Market Prediction: Ethereum (ETH) Squeezed on Verge of Explosion, XRP's Attempt to End Bearish Dominance, Will Bitcoin Break Through $90,000 in Third Attempt? Bitcoin (BTC) price reaction deciphered The price of the cryptocurrency didn't go up after the alert emerged, which counters the thesis of some mysterious buyer withdrawing coins. According to the TradingView chart, BTC/USDT is sitting at around $87,648, down a bit after an intraday sell-off drove the price into the low $87,000s, but a rebound pushed it back into the mid-$87,000s. Advertisement You Might Also Like Tue, 12/23/2025 - 11:28 Morning Crypto Report: -80% for Bitcoin Is Real: Legendary Trader, XRP Re-Flips 'New Cardano,' Shiba Inu (SHIB) on the Verge of 'Black Friday' By Gamza Khanzadaev When BTC leaves an exchange and doesn't move, it's often seen as a reduced immediate sell availability. The thing is, "unknown" is just a label, not proof of a new whale. Large venues rotate custody addresses, rebalance cold storage, and route settlement flows. These movements can look identical to a customer withdrawal until subsequent wallet behavior clarifies intent. The next signal is follow-through. If a wallet starts sending to other venues in batches, it might be a sign of distribution pressure. Advertisement #Bitcoin #Bitcoin News #Coinbase