Overview
- The Oct. 30 movement sent about 281 BTC worth roughly $31 million to a newly created address, confirmed by Arkham Intelligence, with Lookonchain noting a different destination than prior transfers.
- It follows transfers of around 2,395 BTC on Oct. 19 and 1,215 BTC on Oct. 24, bringing total October activity to roughly $450 million.
- All transactions were routed through Coinbase Prime Custody, with portions cycling to Coinbase and back, and the identified receiving wallets show no outbound flows.
- Bitcoin fell about 2% to near $108,000 after the move, with traders also citing Federal Reserve commentary on rate-cut prospects as a factor.
- Arkham estimates SpaceX holds approximately 7,258 BTC and Tesla about 11,509 BTC, and SpaceX has offered no explanation for the recent transfers.