A long-inactive Bitcoin whale transferred 1,000 BTC—valued at roughly $116 million—shortly before the US Federal Reserve’s key interest rate announcement.
The whale, who originally acquired the bitcoin for about $847,000 in 2012, made the move after holding the coins for over a decade, according to on-chain data from Lookonchain.
Whale activity ahead of FOMC
The sizable transfer occurred on Wednesday, just as market attention centered on the upcoming Federal Open Market Committee (FOMC) meeting.
The event is highly anticipated, with nearly all market participants expecting a 25 basis point cut, according to the CME Group’s FedWatch tool.
The founder and CEO of Into The Cryptoverse, Benjamin Cowen, commented on X:
“Tomorrow is the most important FOMC of our lives …until the next one.”
Traders brace for volatility
Despite a generally optimistic outlook, most bitcoin traders were positioned for a short-term decline.
Blockchain data from CoinAnk indicated that over 57% of bitcoin positions on exchanges were short, with just 42% remaining long.
In the lead-up to the FOMC meeting, futures open interest fell by more than $2 billion, signaling widespread de-risking among futures traders.
Exchange flows and spot demand
Amid the uncertainty, Binance reported nine consecutive days of net bitcoin outflows before the Fed decision—a trend highlighted by CryptoQuant as a key factor in bitcoin’s recent price recovery from $108,000 to over $115,000.
Despite this, some traders continued to accumulate bitcoin, reflecting mixed sentiment across the market.
