Two long-dormant Bitcoin whales have moved over 2,000 BTC (worth approximately $234 million at current prices) in the past three days, just ahead of the highly anticipated U.S. Federal Reserve rate decision. One Satoshi-era whale, inactive for over a decade, transferred 1,000 BTC to four new wallets on September 17. This whale originally acquired the Bitcoin in 2013 at around $843 per coin, representing a staggering gain from $847,000 to $117 million.
Another whale deposited 1,176 BTC to Hyperliquid on September 14, potentially signaling selling intentions. This same entity previously converted $4 billion worth of Bitcoin to Ethereum following a similar deposit.
Despite these whale movements, institutional demand remains robust. Bitcoin ETF accumulation continues to exceed new supply, with Bitwise reporting strong flows. According to CEX.IO lead analyst Illia Otychenko, "Investors are now favoring Bitcoin as the safer bet ahead of the Fed decision."
The market anticipates a 25 basis point rate cut with 94-96% probability according to CME's FedWatch tool. However, 57% of Bitcoin holders are currently short, betting on price decline, while Bitcoin futures open interest fell by $2 billion in five days, indicating de-risking ahead of the meeting.