Arkham has reported that since November 14, Strategy has transferred 43,415 BTC, valued at approximately $4.26 billion, to over a hundred addresses. These transactions are part of a custodial migration process, involving the transfer from Coinbase Custody to a new custodian, internal address restructuring, and Coinbase's internal wallet refresh operations. Arkham emphasized that these transfers do not indicate a sale of Bitcoin by Strategy. Similar migrations have been ongoing for the past two weeks, viewed as a continuation of existing custodial transitions.