Bitcoin Whale Sends $35M to Coinbase at a $15M Loss as October Turns Red: What Moves BTC Next?

A Bitcoin whale tracked by Arkham Intelligence deposited 438.37 BTC, worth $35.38 million, into Coinbase Prime early on October 28, 16 months after pulling 615.4 BTC out of the same custody service at an average price of $105,271. The deposit adds to a run of Bitcoin news about whales moving coins to exchanges, and this one comes with a $15 million paper loss. It is a fitting end to a month that was supposed to be “Uptober.” Bitcoin trades at $81,445, up 2.2% in 24 hours but down 2.5% since October 1, with three days left.