A popular blockchain thru alert tracking large cryptocurrency transactions has discovered that they are closely chasing each other three large Bitcoin transfers that took place within an hour.
They are Coinbase facilities, carrying hundreds of millions of dollars worth of Bitcoin.
$230 million Bitcoin shovels on top US platforms
The on-chain data aggregator above has spread the word about three consecutive bitcoin transfers that enter Coinbase Institutional.
These deposits were equipped with 870, 814, and 472 BTC, which totaled $230,000,000 at the time these transfers began. These big chunks of Bitcoin were sent from an anonymous wallet to the aforementioned crypto trading venue.
🚨🚨🚨870 #BTC (92,885,878 USD) transferred from unknown wallet to COINBASE InstitutionalHTTPS://t.co/IHQ08EQNWB
– Whale Alert (@whale_alert) June 17, 2025
Today, Bitcoin prices have dropped sharply, falling 2.6% from the $108,800 zone to a local bottom of nearly $106,000. A similar drop took place last Thursday. Both bearish movements have been driven primarily by recent escalations in military development in the Middle East. Additionally, the handling of the trade war between the US and Canada remains looming with negative predictions for both economies.
Bitcoin medium-term profit holders will be cashed
According to a GlassNode report published today on the X platform, there has been a major change in the wallet class that has recently made money from selling part of its Bitcoin portfolio.
Last week, the main profit taker that sold Bitcoin was a wallet that held Bitcoin for over 12 months, according to GlassNode, an on-chain data aggregator. These cohorts were responsible for 83% of the profits realized in the market. Meanwhile, wallets that hold Bitcoin for 6-12 months have realized $904 million in profits, overtaking the old cohort. It was the second highest date profit each year.
Last week, we highlighted that $BTC wallet, which held >12m 12m, is a leading commercial craftsman. But that trend has now been reversed. yesterday:
🔹 Cohort <12m cohort accounted for 83% of realized benefits
🔹 904m achieved only with 6-12m holders – the second highest daily profit ytd pic.twitter.com/gbd8tlcjvg– GlassNode (@GlassNode) June 17, 2025
This was the situation last week. On Monday, this trend was overturned. So, while mid-cycle Bitcoin buyers are currently cashing out, long-term holders may still be holding or accumulating even more BTC. According to another post in this GlassNode thread, Bitcoin purchases in the fourth quarter of 2024 are primarily for sale.