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. So are whales really heading for the exits, and which dates could decide where Bitcoin goes from here? Bitcoin Whale: $35M to Coinbase Prime Whale bc1q9 deposited 438.37 BTC ($35.38M) overnight, 16 months after withdrawing 615.4 BTC from Coinbase Prime Custody at an average price of $105,271. BTC is $80,807. He's down over $15M on the stack and still holds $14.31M. pic.twitter.com/ASH6nopd0x — Arkham (@arkham) October 28, 2026 DISCOVER: Best Meme Coins to Buy in 2026 Bitcoin News: Are Whales Sending BTC to Exchanges? This one is, but the wider flows are mixed. The address bc1q9kaa…l77q had sat dormant since June 24, 2025, when it received 615.4 BTC from Coinbase ...