🐋 WHALE WATCH : BlackRock transferred 1948 BTC ($122.03M) to Coinbase Prime. Heres the institutional reality: 1. Coinbase Prime is IBITs primary custodian. 2. Outflows require spot conversion under the cash creation model. 3. On chain deposits reflect T+1 settlement mechanics not a sudden boardroom exit. Short term sell side pressure is real but the plumbing is working as intended. Macro thesis unchanged.(Whale Factor)