Coinbase's recent movement of nearly 800,000 BTC has led to significant distortions in data, creating false signals of whale activity. The transactions, conducted between November 22 and 23, involved consolidating UTXOs, affecting cohort value data. Specifically, Coinbase reduced UTXOs in the 10 to 100 BTC range by 259,000 BTC and in the 100 to 1,000 BTC range by 417,000 BTC, while increasing UTXOs in the 1,000 to 10,000 BTC range by 687,000 BTC. This consolidation has been misinterpreted as increased whale buying, highlighting the need for careful analysis of blockchain data.