According to Ki Young Ju, Coinbase is migrating its wallets and movements of hundreds of thousands of BTC are causing a temporary outflow spike in CryptoQuant exchange flow data, with datasets to be revised after the migration completes, source: Ki Young Ju on X. The current BTC outflow surge reflects wallet migration activity on Coinbase rather than typical market-driven withdrawals, source: Ki Young Ju on X. CryptoQuant will update the impacted metrics once the wallet migration is finished, which is material for traders who track BTC exchange reserves and netflows, source: Ki Young Ju on X.