#gamestop transfers all BTC to Coinbase Prime – a sign of selling off?

According to CryptoQuant, GameStop has just transferred all its Bitcoin holdings to Coinbase Prime – a strong signal that the company may soon sell off its entire position.

Details:

Purchased 4,710 BTC (14–23/5/2025) at an average price of 107,900 USD/BTC, total investment of 504 million USD.

Current BTC price ~90,800 USD → estimated loss of 76 million USD.

CryptoQuant Chart:

Profit/Loss: From peak profit of 50M USD (10/2025) to deep loss of -100M USD (red zone prevailing).

Holdings: BTC balance has sharply decreased, multiple negative balance changes (selling).

Invested & Worth: Current value is only ~150-200M USD compared to initial investment.

Analysis:

GameStop was once seen as the new Bitcoin "whale" in the style of MicroStrategy, but significant loss pressure + risk-off market (gold/silver ATH, rising Treasury yields, tightening liquidity) has made it unsustainable. Moving to Coinbase Prime is often a preparatory step for selling or restructuring.

Market sentiment: Many institutions are still active (BitMine buying ETH), but GameStop's selling is a clear sign: when the market worsens, even "all-in" must cut losses. BTC is losing its "safe haven" status compared to gold.

Do you think this is the bottom or is GameStop selling at the bottom? Hold BTC or diversify? Comment below! 📉🟠