Over $670M in Bitcoin Transferred to Coinbase by Unknown Whales Amid BTC Surge

On May 22, crypto exchange Coinbase received a massive Bitcoin influx totaling 6,016 BTC—valued at over $670 million—triggering speculation across the crypto community. According to blockchain tracker Whale Alert, the transfers were made in 13 identical transactions, each involving either 463, 462, or 461 BTC, and all originated from separate unidentified wallets.

The timing has raised eyebrows, as it coincides with Bitcoin Pizza Day and comes during a strong bull run that recently pushed BTC to a new all-time high of $111,915. At the time of writing, Bitcoin is trading at $111,538, up 4.56% in the past 24 hours, according to CoinMarketCap.

Despite the lack of clarity around the senders, the structured nature and timing of the transactions have led some analysts to suggest a coordinated move, possibly from a single institution preparing to take profits. Historically, large Bitcoin inflows to exchanges like Coinbase often precede sell-offs, signaling potential market pressure.

Still, Bitcoin’s current uptrend remains unshaken, with strong bullish sentiment dominating despite fears of whale-driven corrections. While the full motive behind the transfers remains unclear, the incident highlights the ongoing influence of large holders on market dynamics.

As Bitcoin continues to attract attention from both retail and institutional investors, such high-volume movements will be closely watched for their potential impact on price momentum. The long-term outlook remains positive, though recurring whale activity could moderate future gains.