According to @lookonchain, a newly created wallet identified as 3AXFhi received 1,300 BTC valued at about $120.6M from BitGo over the past 6 hours (source: Lookonchain on X, Nov 20, 2025), and the transfers and balance are visible on the Arkham Intelligence address explorer for 3AXFhi (source: Arkham Intelligence). As BitGo operates as a digital asset custodian, such flows denote custodied funds moving on-chain (source: BitGo official site), and traders track whether these coins subsequently reach exchange-labeled addresses because rising exchange inflows can precede sell-side pressure (source: CryptoQuant Academy on exchange inflows).