$103.6M
Coinbase: Cold Wallet
12DezRFkKToAiLTDNru1g7FuvtAWMwCZ7N
->
Coinbase: Cold Wallet
bc1q0d3k8zue8z5ztqt0r35rsd7gua5z4ser6gt46c
Capital shifting between wallets, neutral flow change. $103.6M BTC moved from Coinbase: Cold Wallet to Coinbase: Cold Wallet on Bitcoin. Monitor follow-up routing to distinguish internal treasury rotation, market-maker rebalancing, bridge settlement, and true directional position change. Low priority whale flow: treat as context unless similar transfers repeat.