Bitcoin whale transfers sent 6,168 BTC, worth approximately $498.5 million, to Coinbase Prime overnight, blockchain tracker Lookonchain reported on October 28, 2026. The deposits do not establish whether the holders sold the coins.

Key Takeaways

  • Three wallets made the latest transfers while bitcoin traded near $80,800.
  • Two other whales deposited 2,571 BTC the previous day after roughly three years of inactivity.

Bitcoin whale transfers do not confirm sales

Lookonchain said the three deposits occurred approximately six hours before its post. Large exchange-bound transfers can precede sales, but Coinbase Prime also provides custody services, so the transfers alone do not reveal the holders’ intentions.

Arkham separately identified a wallet that deposited 438.37 BTC, valued at $35.38 million, during the same period. The wallet had withdrawn 615.4 BTC at an average cost of $105,271 roughly 16 months earlier and still held approximately 177 BTC, Arkham said.

Earlier deposits and mixed fund flows

The day before the latest transfers, two other whales deposited 2,571 BTC worth $206.52 million after approximately three years of inactivity. Together, the transfers represented more than $705 million in exchange-bound bitcoin over roughly 48 hours.

Spot bitcoin exchange-traded funds also saw mixed flows in the preceding week. SoSoValue data showed $524.8 million in net inflows on October 21, followed by $635.6 million in outflows on October 22. The five sessions ending October 23 recorded net inflows of $301.2 million.

Federal Reserve meeting on the calendar

The Federal Reserve’s meeting schedule listed a two-day policy meeting on October 27–28 and a press conference on October 28. The calendar did not establish the outcome of the meeting or its effect on bitcoin.

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