A transaction of 1,700 Bitcoin, equivalent to approximately $142 million, was executed from Coinbase Institutional to an unidentified wallet, according to blockchain tracker Whale Alert. This transfer is part of a series of significant institutional movements through this platform in 2026, including outflows of 2,258 BTC in June, 659 BTC in August, and 826 BTC recently. Coinbase Institutional, a custody platform reserved for institutional actors such as hedge funds, family offices, and spot Bitcoin ETF issuers, also recently received inflows totaling over 4,600 BTC. The implied price per Bitcoin in this transaction is approximately $83,500, indicating the level at which institutional players are willing to transact at scale.
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