A whale moved $206 million to Coinbase—no need to panic at the sight of it $BTC
Two whale wallets that had been dormant for three years deposited 2,571 BTC, worth about $206.52 million, into Coinbase Prime. The comments section erupted again: “They’re dumping! They’re dumping!” But don’t rush to assume they’re getting out. Coinbase Prime is an institutional custody platform, and a deposit doesn’t mean a sell order. Many transactions are OTC settlements and never touch the public order book.
One study estimated that news of whales depositing funds on exchanges explains less than 0.05% of price fluctuations. $206 million sounds scary, but it’s only 0.013% of BTC’s market cap. What really matters is sustained selling on-chain—not a single transfer.
How much do you trust whale alerts? Let’s discuss in the comments.#比特币 #OnChainData
Two whale wallets that had been dormant for three years deposited 2,571 BTC, worth about $206.52 million, into Coinbase Prime. The comments section erupted again: “They’re dumping! They’re dumping!” But don’t rush to assume they’re getting out. Coinbase Prime is an institutional custody platform, and a deposit doesn’t mean a sell order. Many transactions are OTC settlements and never touch the public order book.
One study estimated that news of whales depositing funds on exchanges explains less than 0.05% of price fluctuations. $206 million sounds scary, but it’s only 0.013% of BTC’s market cap. What really matters is sustained selling on-chain—not a single transfer.
How much do you trust whale alerts? Let’s discuss in the comments.#比特币 #OnChainData