In brief
- Two dormant Bitcoin whales have moved upwards of 2,000 BTC in the past three days.
- Despite whales’ selling activity, institutional demand remains strong, with ETF-driven accumulation spree exceeding new supply.
- Experts suggest watching out for the Fed Chair’s tone in today’s rate cut meeting at 2pm ET.
Bitcoin whales inactive for more than a decade have started to wake up as the U.S. Federal Reserve’s September 17 rate cut decision draws close.
A Satoshi-era whale woke up on Wednesday and transferred 1,000 BTC worth to four new wallets, according to on-chain analytics platform Arkham.
In 2013, this whale received 1,000 BTC in four chunks, with the price of Bitcoin hovering around $843. At Bitcoin’s current price of $117,000, the same stack is now worth a staggering $117 million.
More dormant wallets have started waking up as Bitcoin holds above the psychologi
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Author: Akash Girimath
