A transaction of 3,402 BTC worth $292 million has sparked interest among crypto investors.
Large Bitcoin Transaction
A recent move of 3,402 BTC, which amounts to $292 million, has captured the crypto market's attention in just minutes. This significant transaction is seen as a potential sign of institutional investor activity or a major movement by Bitcoin whales.
Blockchain Data Analysis
According to the tracking platform Whale Alert, the funds were moved between unknown wallets, suggesting a large accumulation or strategic redistribution of assets. The move could be linked to an OTC trade, but its exact nature remains uncertain.
Market Reactions to Fed Actions
Bitcoin continues to rise by 3% in the past 24 hours, reaching $85,947. The increase follows statements by Fed Chair Jerome Powell about a dovish assessment of the U.S. economy. On Wednesday, Bitcoin surged past $87,000, rising nearly 6% after the Fed's signals of looser financial conditions.
The ongoing rise of Bitcoin might hinge on its ability to maintain above the significant SMA 200 level, which becomes a focal point for investors in the coming days.
