Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
U.Today - Leading U.S. crypto exchange Coinbase (NASDAQ:COIN) has just been hit with a massive Bitcoin inflow totaling over $130 million, sparking fresh speculation around possible whale activity and market shifts. The movement was flagged by blockchain monitoring platform Whale Alert, which tracked two consecutive BTC transfers on April 17.
According to the data, a total of 1,546 BTC was sent to Coinbase in less than an hour. The transactions originated from the same mysterious wallet "3Pfmv9Cibqx3", suggesting a single entity was behind both moves.
The first transfer included 746 BTC, valued at approximately $63.1 million. The second, just minutes later, involved 800 BTC, worth around $67.7 million.
This wallet has a history of large-scale Bitcoin movements across exchanges, and its latest activity has reignited discussions around potential whale strategies.
Whales making chess moves?
The timing of the transactions is especially notable given the current market conditions. While Bitcoin’s trading volume has dropped by 20.01% over the last 24 hours, its price is climbing modestly, now sitting at $85,337, up 1.07%, per CoinMarketCap.These kinds of large transfers to exchanges often serve as indicators of: impending sell-offs, institutional repositioning or liquidity plays ahead of major price movements
Some in the crypto community speculate this could signal a shift in whale sentiment, potentially toward short-term profit-taking amid recent market uncertainty. As one user commented, “It’s often a liquidity play before major moves.”
Despite ongoing volatility in the broader crypto space, Bitcoin has shown remarkable price resilience around the $85K level. Analysts remain divided on whether this whale activity signals a cooldown or a calculated setup for future gains.
Veteran trader Peter Brandt recently likened Bitcoin’s price action to “little boxes on the hillside,” suggesting consolidation that could precede a breakout.
Whether this massive Coinbase inflow marks the start of a market selloff or a strategic asset shuffle, one thing is clear—whales are moving, and the market is paying attention.