A long-inactive Bitcoin whale has suddenly moved about $116 million worth of BTC after 12 years of silence, just hours before the U.S. Federal Reserve’s key interest rate decision.
Blockchain data from Lookonchain shows the whale transferred 1,000 BTC, valued at roughly $116,647 each, into new wallets on Wednesday. The coins were originally bought for around $847 apiece, totaling about $847,000 at the time.
By holding onto the stash for more than a decade, the whale’s investment ballooned more than 130 times in value. The timing of the move, ahead of the Federal Open Market Committee (FOMC) meeting that may deliver the Fed’s first rate cut of the year, has drawn particular attention.
Traders Brace for Fed Decision
Market analysts are calling the upcoming Federal Reserve decision one of the most important of the year. According to the CME Group’s FedWatch tool, 96% of participants now expect a 25 basis point rate cut up from 85% just a month earlier.
Still, many crypto traders are preparing for short-term weakness. Blockchain data from CoinAnk shows that 57% of Bitcoin holders across exchanges are short, betting on a price drop, while only 42% remain long.
Meanwhile, Binance recorded nine straight days of “constructive outflows” for Bitcoin before the FOMC meeting. Onchain analytics firm CryptoQuant said this trend has been a key factor behind Bitcoin’s recent rebound from $108,000 to over $115,000.
