According to data from on-chain and analytics platform Lookonchain, a whale recently deposited 119 Bitcoin ($7.14 million) into Binance, the world's largest cryptocurrency exchange.
This whale had withdrawn a total of 3,409 BTC ($195.4 million) from Binance at an average price of $57,319 since December 1, 2023. He then deposited 320 BTC ($19.56 million) to Binance at $61,192 and still has 3,089 BTC ($186 million).
It is stated that this whale made a profit of approximately $ 10.5 million from Bitcoin transactions. His recent transactions reveal the strategic moves of big investors in the crypto market and the way they manage large amounts of BTC.
With the whale’s latest investment in Binance, it is a matter of curiosity how the market will shape up. Crypto whales can have significant impact on prices by making large transactions, which requires close monitoring of market movements.
All eyes on the Fed decision in Bitcoin
Global markets are focused on the US Federal Reserve (Fed) interest rate decision, which will be announced on Wednesday, September 18, 2024. It is almost certain that the Fed will reduce the interest rate, which is between 5.25% and 5.50%, with its decision this week. However, how large the reduction will be remains uncertain.
Stay tuned for new information.
