Bitcoin: BitGo Transfers 1300 BTC to New Wallet 3AXFhi Worth $120.6 Million

COINOTAG News reports, citing LookIntoChain monitoring, that in the past six hours a newly created wallet labeled 3AXFhi received a sizable inbound transfer of 1300 BTC from BitGo, valued at approximately $120.6 million based on current pricing. This on-chain activity highlights evolving liquidity dynamics within the BTC network.

The event underscores ongoing on-chain transfers and institutional-grade activity, with no additional details disclosed on the destination address. The transfer demonstrates the role of blockchain monitoring in risk assessment and market transparency as observers track large inbound movements associated with major custodians like BitGo.