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Before choosing how you'll transition this, Take a look at S3 Storage Lens: https://docs.aws.amazon.com/AmazonS3/latest/userguide/storage_lens_basics_metrics_recommendations.html
This will better help you to understand what your usage is like so you don't transition a bunch of objects and then have to immediate incur costs to retrieve them. Once you have a good understanding of usage pattern on buckets, then I'd implement lifecycle policies. https://docs.aws.amazon.com/AmazonS3/latest/userguide/object-lifecycle-mgmt.html
Leverage a Lambda with scheduled Cron to run the S3 Delete API for the objects. Also, follow the best practice documents for S3 with respect to Costs as below and maybe that can reduce the cost. Your use-case & data is best known by you. You can enable lifecycle rules/Intelligent Tiering approach if you feel the data in the Bucket is for the same.
Best Practices- https://docs.aws.amazon.com/AmazonS3/latest/userguide/optimizing-performance.html
Cost optimization- https://aws.amazon.com/s3/cost-optimization/
A lot can be done to reduce the costs and optimize the bucket, however it is best to also reach out to AWS Technical account manager/AWS Support who can closely work with you on saving the costs.
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