Massive $150M Bitcoin Transfer to Coinbase Sparks Whale Activity Concerns

Bitcoin investors are closely monitoring a large-scale crypto transaction spotted by Whale Alert on May 27. According to the blockchain tracking platform, U.S.-based crypto exchange Coinbase received two massive Bitcoin transfers totaling 1,588 BTC, valued at over $150 million. The first transaction involved 910 BTC worth approximately $100.2 million, followed by 678 BTC worth around $74.7 million. Both transfers were completed within an hour from unidentified wallets.

This significant movement has fueled speculation about potential selling pressure, a common concern when large volumes of BTC flow into centralized exchanges. Historically, similar inflows have been linked to institutional sell-offs or whale profit-taking strategies. Market participants fear such actions could lead to short-term price corrections, especially amid already volatile conditions in the crypto market.

Despite these concerns, Bitcoin's price has shown resilience. Data from CoinMarketCap indicates a 1.06% increase over the past 24 hours, pushing BTC to $110,194 at press time. This marks a modest 1.59% decline from its recent all-time high of $111,970, recorded just five days ago. Analysts attribute the sustained price momentum to ongoing inflows into spot Bitcoin ETFs, which continue to drive market demand.

On the same day, U.Today reported a substantial 7,869 BTC entering spot Bitcoin ETFs, further reinforcing investor appetite for the asset. While the exact motive behind the $150 million transfer remains unclear, some suggest it could be part of a portfolio rebalancing move rather than an outright sell-off.

For now, the market appears stable, with no immediate signs of bearish pressure from the transfer. However, traders will continue to watch on-chain activity for any further signs of whale-driven volatility.