Bitcoin Surges to $68,000 After Key FED Meeting ๐
Bitcoin jumped to almost $70,000 after the FED decided to keep interest rates the same. However, the price adjusted to just over $68,000. ๐
Dormant Wallet Moves 8,000 BTC! ๐ฆ
A Bitcoin wallet, inactive since December 2018, suddenly transferred 8,000 BTC (worth around $536.5 million).
Here's what happened: 1๏ธโฃ The BTC was moved from Coinbaseโs cold storage to a Binance deposit address. 2๏ธโฃ These coins were originally received in 2018, when Bitcoin was about $3,750. 3๏ธโฃ No test transfers were made, which is unusual for such large transactions.
When old wallets like this become active, it often means potential selling pressure on the market. The owner might be preparing to cash out, taking advantage of the 1,700% increase in Bitcoin's price since the original purchase. ๐ธ
Increasing #bitcoin Network Activity ๐
Recent data shows: ๐น Active sending addresses on the Bitcoin network rose from under 300,000 to over 400,000. ๐น New Bitcoin addresses increased from 203,000 to 278,000.
This means more people are getting involved in Bitcoin, indicating renewed interest or speculation. ๐
What's Next? ๐ค
While it's unclear how this big transaction will affect the market, it's crucial for Bitcoin to maintain strong support levels to keep its upward trend.
Stay tuned for more crypto insights! ๐#Binance
Disclaimer: This is not financial advice. Always do your own research before investing.
