A large volume of Bitcoin was moved to centralized exchanges by major holders yesterday, sparking concerns that prices could face downward pressure ahead of the Federal Reserve’s key policy meeting.
The transfers, reported by CryptoQuant analyst Maartunn, originated from addresses controlling at least 100 BTC. These holders sent 44,459 BTC to exchanges on Tuesday, an amount estimated to be worth $3.2 billion at current market rates.
Whale movements of this scale have historically coincided with periods of increased market activity, as large holders often move assets to exchanges for a range of purposes, including trading, rebalancing, or liquidity provision.
Bitcoin hovered near $73,000 at the time of writing, marking a 1.5% decline in the last 24 hours, per CoinGecko. The asset fell from above $74,000 to around $72,900 over the past hour as traders braced for increased market swings.
It’s not just the Fed decision driving attention today, as several macro developments could influence market direction.
The US Producer Price Index, set for release Wednesday morning, will provide a fresh reading on inflation at the wholesale level, following recent consumer data.
Analysts are focused on whether higher energy prices tied to Middle East tensions are beginning to filter through.
Source: https://cryptobriefing.com/whale-bitcoin-transfers-fed-meeting/
