【Federal Reserve Decision Eve: Cryptomarket Under Currents, $1.5 Billion Bet on Market Fluctuations】
Less than 24 hours before the Federal Reserve's interest rate decision, the cryptocurrency market has seen an epic battle for funds. The Bitcoin market experienced sudden fluctuations last night, with a $1.5 billion surge in buy orders storming the market, pushing the spot premium rate to rise over 3%. On-chain data shows that 50,000 Bitcoins worth $3.3 billion are being transferred from exchange cold wallets, indicating that mysterious institutions may be positioning themselves for spot positions, betting on the Federal Reserve signaling a dovish stance.
The Ethereum battlefield witnessed even crazier migrations of funds. Blockchain explorers captured $870 million in ETH being frequently traded among whale addresses within 24 hours, with a Singapore family office clearing out 200,000 spot ETH (approximately $630 million) to move to the futures market. Institutional players are adopting a strategy of both offense and defense, with Wall Street hedge funds reportedly establishing both long and short positions simultaneously, and Deribit exchange seeing the emergence of 100,000 ETH options betting contracts, involving a notional value exceeding $3.5 billion. On-chain monitoring shows that the holdings of the top 100 ETH addresses have risen to 63.8%, reaching a new high since the 2021 bull market, intensifying the trend of concentration of chips.
Tonight's Federal Reserve interest rate decision could be the key catalyst to ignite the cryptocurrency market. Don't rush if you've missed a trade; there are plenty of opportunities in the market. Not losing is gaining, always protect your principal. Tonight, I will write a sharing on the experience of profiting from memes last night.
