Whales Continue to Acquire Bitcoin: 900 BTC Withdrawn from Binance
While crypto transactions from newly created wallets have been gaining attention recently, it appears that large whale accounts are also getting Bitcoin at a discount. Overnight, three separate whales withdrew a total of 900 BTC from the Binance exchange to newly opened wallets.
While the crypto market, like the rest of the world, is awaiting the Fed’s interest rate cut, it appears that some whales have started buying Bitcoin again. According to information provided by the chain tracking platform Lookonchain, three separate whales withdrew 900 BTC worth $51 million overnight. The shooting took place on the Binance exchange.
Newly opened wallets…
The fact that the purchases were made days before September 18, when the Fed will make its decision on new interest rates, also reinforces the idea that whale accounts are expecting an increase. While experts predict the Fed will cut rates by 25 basis points, there are not a few who see 50 basis points.
Bitcoin, which has risen more than 4 percent in the past 24 hours, was trading at around $57,300 in the minutes after the news was written.
