Bitcoin Large-Scale Transfers Hit $652.5 Million as Institutional Outflows Continue

Five large Bitcoin transactions totaling approximately $652.5 million were recorded on-chain during a three-hour span on October 20. The activity included two transfers between unknown wallets of 3,486 BTC ($283.8 million) and 2,489 BTC ($202.9 million). Meanwhile, Coinbase Institutional registered $62.7 million in deposits and $103.1 million in withdrawals, marking a net outflow of $40.4 million. This followed institutional activity on October 19, when Coinbase Institutional-linked transfers totaled $280.4 million in Bitcoin and Ether, featuring withdrawals of $144.2 million against deposits of $136.2 million.