#news_update During the Federal Reserve’s last meeting yesterday, interest rates were cut by 25 basis points, and the policy change began by changing the number of cuts to be made over the next year. The consequences of the news caused bitcoin to cancel the market retracement.
After hitting an all-time high of 98K and dropping 8%, BTC immediately got all the liquidity it needed. In addition to the economic downturn, the Fed's decision created chaos in the bitcoin market and other markets.
The new large BTC whale activity on the chain has raised curiosity among the rest of the crowd looking for a perspective. Overall, it shows with over 72,000 BTC moved, meaning the market is reaching its saturation point. Every now and then there are big changes in the early stages of the adoption curve, which turn out to be a leading indicator of the bottom, as such large activity creates emotion and liquidity in the market.
Despite the trend, the fact that BTC continues to trade above the liquidity zone has given many investors peace of mind. The question remains: is this the shakeout that leads to the next uptrend or is this a more significant correction?
Millions of traders and analysts aim to understand the next move of bitcoin pessimists and animists which may be the meeting point around this unusual whale activity and macro policies. The coming days may answer the ideal bitcoin price trend and range in the short term, which is yet to be revealed.
Bitcoin Whale Action
The change after Bitcoin broke through $67,000 to $108,000 began to turn into a market sentiment where rational investors began to prepare for the coming months. What is noteworthy in this case is the fact that as the price increases, major shareholders such as Bitcoin whales begin to move their assets which means a drastic change is imminent.
On-chain whale statistics Maartunn provided to top analysts include a ballistic outflow of over 72,000 Canadian btc. Recent on-chain transactions allowed 8,000 5_7 year old bitcoins to be moved.
Nearly eight off-market trades in a fourteen-day period indicate a large whale migration pattern. These trades can be interpreted in two different ways.
Given the Heavy Liquidity Wallet, the Big Whale migration could be a signal that they are trying to target a market top. The above statement explains the large change in volume that caused the BTC price to rise. If this is true, then the Big Whale database liquidity providers will take advantage before a pullback occurs.
Some price fluctuations tell us that whales are positioning themselves in the hope that a boost will come during altcoin season.
The market is wondering whether this mass transaction is a sign of relief, or whether it is a shrewd position shift by top Bitcoin holders. This focus will be a major concern among investors in the coming weeks.