$87.8M
Gemini: Cold Wallet
3MgEAFWu1HKSnZ5ZsC8qf61ZW18xrP5pgd
->
Gemini: Hot Wallet
bc1quq29mutxkgxmjfdr7ayj3zd9ad0ld5mrhh89l2
Capital shifting between wallets, neutral flow change. $87.8M BTC moved from Gemini: Cold Wallet to Gemini: Hot 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.