Bitcoin Whales Started Buying After Fed Decision

Bitcoin (BTC) whales started buying from exchanges after the Fed's policy decision.

According to CoinGecko data, Bitcoin started to lose value after rising above $69,000 yesterday evening. Bitcoin started the day just below $67,500.

Whales began to gather

According to a post by Blockchain analysis platform Lookonchain, whales started collecting Bitcoin after the price dropped.

According to BitInfoCharts data, two wallets, which were opened on May 27 and have not made any significant transactions since then, withdrew a total of 2,000 Bitcoins from the Binance exchange at around 10:00 today.

At the time these two addresses were trading, the Bitcoin price was $67,491.

Markets mixed after Fed decision

According to the data announced yesterday, the Consumer Price Index in the USA was below expectations, with an annual increase of 3.3%. In May, inflation remained unchanged on a monthly basis for the first time since July 2022.

Following the two-day meeting of the Federal Open Market Committee (FOMC), monetary policy decisions and future forecasts were announced. As expected, the Fed kept the policy rate unchanged and kept it constant in the range of 5.25%-5.50%.

Most Fed members expect two interest rate cuts this year. According to analysts, the first discount is likely to be made in September.