Bitcoin Transfer Leads $669.5 Million in Three-Hour Crypto Moves

Five sizable crypto transfers totaling $669.5 million took place during a three-hour span that closed at 10:01 a.m. ET Nov. 10. Bitcoin (BTC) accounted for four transactions, and a move from Ceffu was the largest.

At 8:25 a.m. ET, Ceffu sent 2,314 BTC valued at $172.2 million to an unknown wallet. An unknown wallet sent 2,328 BTC worth $172 million to Ceffu at 8:56 a.m. ET. A separate 2,000 BTC transfer valued at $147.5 million moved between unknown wallets at 9:29 a.m. ET.

Two other transactions took place earlier: Coinbase Institutional sent 693 BTC, worth $51.6 million, to an unknown wallet at 7:08 a.m. ET, and an unknown wallet transferred 126.3 million Tether USDt (USDT), valued at $126.2 million, to Bitfinex at 7:25 a.m. ET.

During the window, unknown wallets sent $298.3 million to exchanges, compared with $223.8 million sent from exchanges to unknown wallets, a $74.5 million difference in exchange-bound value. Exchange deposits are commonly watched for possible selling and transfers away for potential holding, but the wallet paths alone do not reveal owners’ intentions.