Bitcoin Bonanza: $230 Million Transfer Leaves Coinbase Gasping! 💰😱

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Ah, the ever-so-charming blockchain detective, Whale Alert, has once again donned its magnifying glass and spotted three rather hefty Bitcoin transfers, all occurring in a delightful little hour. How quaint! 💼

These transactions, darling, were aimed squarely at Coinbase Institutional, the posh branch of the largest US crypto exchange, where the big boys play with their hundreds of millions. One can only imagine the clinking of champagne glasses! 🥂

Oh, $230 Million in Bitcoin, How Droll!

Our dear on-chain data aggregator has been busy spreading the gossip about three consecutive Bitcoin transfers that waltzed into Coinbase Institutional. These deposits, my dear, were a staggering 870, 814, and 472 BTC, totaling a jaw-dropping $230,000,000 at the time of their grand entrance. All from anonymous wallets, of course—because who doesn’t love a bit of mystery? 🎭

🚨 🚨 🚨 🚨 870 #BTC (92,885,878 USD) transferred from unknown wallet to Coinbase Institutional

— Whale Alert (@whale_alert) June 17, 2025

Now, let’s not forget the drama of the day! Bitcoin’s price took a rather theatrical plunge, dropping by 2.6% from the $108,800 stage to a local bottom near $106,000. A similar performance occurred last Thursday, all thanks to the latest military escapades in the Middle East. And let’s not overlook the looming trade war between the US and Canada—oh, the suspense! 🎭

Bitcoin Mid-Term Profit Takers: The Great Cash-Out!

According to a rather riveting report from Glassnode, there’s been a delightful shift in the wallet tiers cashing in on their Bitcoin profits. Last week, the old guard—those wallets holding Bitcoin for over 12 months—were the main profit-takers, responsible for a staggering 83% of all realized profits. But wait! The young upstarts, those holding for 6-12 months, have just realized a cool $904 million in profits, overtaking the old-timers. How scandalous! 💸

Last week, we highlighted how $BTC wallets that held >12m were the primary profit-takers. But that trend has now flipped. Yesterday:

🔹 <12m cohorts accounted for 83% of all realized profit
🔹 6–12m holders alone realized $904M – second-highest daily profit YTD

— glassnode (@glassnode) June 17, 2025

And so, the plot thickens! On Monday, this trend flipped, and mid-cycle Bitcoin buyers are cashing out while the long-term holders sit back, sip their martinis, and perhaps even accumulate more BTC. According to another delightful post in this Glassnode thread, it’s primarily those whales who bought Bitcoin in the fourth quarter of 2024 that are now making their grand exit. How utterly riveting! 🐋

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2025-06-17 14:17