Copper Sends $88.76M BTC to Bybit According to on-chain analyst iChainfo, an address associated with cryptocurrency custodian Copper transferred approximately 923 BTC (worth around $88.76 million) to Bybit, a cryptocurrency exchange, about 20 minutes ago. The reason behind this transfer is still unknown and has not been officially disclosed by either Copper or Bybit. This move by Copper has sparked speculation among the crypto community. Some observers believe it could indicate that Copper is moving some of its Bitcoin holdings to Bybit, possibly for trading purposes or to provide liquidity to the exchange. Others suggest it may be related to a customer transaction, such as a large over-the-counter (OTC) trade. Whatever the reason, this transfer demonstrates the growing adoption of cryptocurrencies by institutional players like Copper. As more traditional financial institutions enter the crypto space, it is expected that such large-scale transfers will become more common.

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